BellRing Brands (NYSE:BRBR) Sees Unusually-High Trading Volume

BellRing Brands, Inc. (NYSE:BRBRGet Rating) saw strong trading volume on Friday . 55,054 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 775,144 shares.The stock last traded at $23.05 and had previously closed at $24.82.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley lowered their target price on shares of BellRing Brands from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. Citigroup reaffirmed a “buy” rating and issued a $35.00 target price on shares of BellRing Brands in a research note on Tuesday, August 23rd. Finally, Mizuho lifted their target price on shares of BellRing Brands from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.33.

BellRing Brands Trading Down 9.5 %

The company’s 50 day moving average price is $23.11 and its 200-day moving average price is $24.07. The company has a market capitalization of $3.06 billion, a PE ratio of 29.16, a PEG ratio of 1.36 and a beta of 0.91.

Hedge Funds Weigh In On BellRing Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new position in shares of BellRing Brands during the 1st quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of BellRing Brands during the 1st quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new position in shares of BellRing Brands during the 1st quarter valued at $36,000. Stephens Inc. AR acquired a new position in shares of BellRing Brands during the 1st quarter valued at $59,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of BellRing Brands by 70.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,900 shares of the company’s stock valued at $72,000 after acquiring an additional 1,201 shares in the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

BellRing Brands Company Profile

(Get Rating)

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink shake and powder protein products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.

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