Comerica Bank grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 21.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,800 shares of the company’s stock after acquiring an additional 10,870 shares during the period. Comerica Bank’s holdings in BellRing Brands were worth $1,400,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of BRBR. BlackRock Inc. grew its position in shares of BellRing Brands by 328.4% during the 1st quarter. BlackRock Inc. now owns 12,967,658 shares of the company’s stock valued at $299,293,000 after acquiring an additional 9,940,436 shares during the period. Vanguard Group Inc. boosted its holdings in BellRing Brands by 183.4% in the 1st quarter. Vanguard Group Inc. now owns 10,814,461 shares of the company’s stock worth $249,598,000 after buying an additional 6,997,877 shares during the period. State Street Corp boosted its holdings in BellRing Brands by 332.1% in the 1st quarter. State Street Corp now owns 3,676,863 shares of the company’s stock worth $84,862,000 after buying an additional 2,826,014 shares during the period. Dimensional Fund Advisors LP boosted its holdings in BellRing Brands by 1,640.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,725,639 shares of the company’s stock worth $62,909,000 after buying an additional 2,569,055 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in BellRing Brands by 11,443.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,384,380 shares of the company’s stock worth $55,031,000 after buying an additional 2,363,724 shares during the period. 92.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of BellRing Brands from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, December 20th. Truist Financial cut their price objective on shares of BellRing Brands from $30.00 to $25.00 in a report on Monday, November 21st. Barclays increased their target price on shares of BellRing Brands from $26.00 to $28.00 in a research note on Friday, December 9th. Cowen started coverage on shares of BellRing Brands in a research note on Wednesday, December 14th. They issued an “outperform” rating and a $31.00 target price on the stock. Finally, Needham & Company LLC started coverage on shares of BellRing Brands in a research note on Tuesday, December 13th. They issued a “buy” rating and a $32.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.64.
BellRing Brands Stock Performance
BellRing Brands (NYSE:BRBR – Get Rating) last posted its quarterly earnings data on Thursday, November 17th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $379.20 million for the quarter, compared to analysts’ expectations of $404.75 million. BellRing Brands had a net margin of 6.00% and a negative return on equity of 10.73%. On average, analysts predict that BellRing Brands, Inc. will post 1.23 earnings per share for the current year.
BellRing Brands Profile
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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