BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBRGet Rating) by 199.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,625 shares of the company’s stock after acquiring an additional 20,385 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BellRing Brands were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Ziegler Capital Management LLC lifted its stake in BellRing Brands by 18.4% in the 3rd quarter. Ziegler Capital Management LLC now owns 21,143 shares of the company’s stock valued at $436,000 after buying an additional 3,282 shares in the last quarter. Texas Permanent School Fund raised its position in shares of BellRing Brands by 23.1% during the 3rd quarter. Texas Permanent School Fund now owns 97,412 shares of the company’s stock valued at $2,008,000 after buying an additional 18,261 shares during the period. Raymond James & Associates raised its position in shares of BellRing Brands by 23.1% during the 3rd quarter. Raymond James & Associates now owns 53,341 shares of the company’s stock valued at $1,099,000 after buying an additional 10,014 shares during the period. Xponance Inc. increased its holdings in BellRing Brands by 25.3% in the 3rd quarter. Xponance Inc. now owns 21,757 shares of the company’s stock valued at $449,000 after purchasing an additional 4,388 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of BellRing Brands by 23.1% in the third quarter. State of Michigan Retirement System now owns 34,145 shares of the company’s stock worth $704,000 after acquiring an additional 6,400 shares in the last quarter. 92.40% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Down 0.6 %

BellRing Brands stock opened at $26.30 on Monday. BellRing Brands, Inc. has a 52-week low of $20.20 and a 52-week high of $28.95. The firm has a fifty day moving average of $25.32 and a 200-day moving average of $24.26. The firm has a market capitalization of $3.56 billion, a P/E ratio of 34.16, a PEG ratio of 2.39 and a beta of 0.87.

BellRing Brands (NYSE:BRBRGet Rating) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. BellRing Brands had a net margin of 6.00% and a negative return on equity of 10.73%. The company had revenue of $379.20 million during the quarter, compared to analyst estimates of $404.75 million. On average, research analysts expect that BellRing Brands, Inc. will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of BellRing Brands from $26.00 to $28.00 in a research report on Friday, December 9th. Cowen started coverage on shares of BellRing Brands in a research report on Wednesday, December 14th. They issued an “outperform” rating and a $31.00 price target for the company. Truist Financial reduced their price target on shares of BellRing Brands from $30.00 to $25.00 in a research report on Monday, November 21st. Morgan Stanley upped their target price on shares of BellRing Brands from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. Finally, Cowen started coverage on shares of BellRing Brands in a report on Wednesday, December 14th. They issued an “outperform” rating and a $31.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.64.

About BellRing Brands

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BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other 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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Institutional Ownership by Quarter for BellRing Brands (NYSE:BRBR)

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