Short Interest in BellRing Brands, Inc. (NYSE:BRBR) Decreases By 5.6%

BellRing Brands, Inc. (NYSE:BRBR – Get Rating) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 3,890,000 shares, a drop of 5.6% from the February 13th total of 4,120,000 shares. Based on an average daily volume of 971,800 shares, the short-interest ratio is currently 4.0 days.

Institutional Trading of BellRing Brands

Institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its position in BellRing Brands by 1,839.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock valued at $78,000 after acquiring an additional 3,237 shares in the last quarter. Raymond James & Associates bought a new position in BellRing Brands during the first quarter valued at approximately $3,931,000. Bank of New York Mellon Corp raised its position in BellRing Brands by 610.7% during the first quarter. Bank of New York Mellon Corp now owns 1,065,818 shares of the company’s stock valued at $24,599,000 after acquiring an additional 915,857 shares in the last quarter. PNC Financial Services Group Inc. raised its position in BellRing Brands by 15,216.3% during the first quarter. PNC Financial Services Group Inc. now owns 15,010 shares of the company’s stock valued at $347,000 after acquiring an additional 14,912 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in BellRing Brands during the first quarter valued at approximately $221,000. 92.40% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

BRBR stock opened at $29.93 on Friday. The stock has a market cap of $4.00 billion, a P/E ratio of 33.63, a P/E/G ratio of 1.91 and a beta of 0.86. The firm has a 50 day simple moving average of $29.22 and a 200 day simple moving average of $25.76. BellRing Brands has a 52 week low of $20.20 and a 52 week high of $31.93.

BellRing Brands (NYSE:BRBR – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.27 by $0.06. The business had revenue of $362.70 million during the quarter, compared to analysts’ expectations of $342.98 million. BellRing Brands had a net margin of 8.29% and a negative return on equity of 36.56%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Sell-side analysts predict that BellRing Brands will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research reports. Truist Financial reduced their price objective on shares of BellRing Brands from $30.00 to $25.00 in a research report on Monday, November 21st. Cowen began 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. Needham & Company LLC raised their target price on shares of BellRing Brands from $32.00 to $35.00 in a report on Wednesday, February 8th. Morgan Stanley raised their target price on shares of BellRing Brands from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Finally, Barclays raised their target price on shares of BellRing Brands from $26.00 to $28.00 in a report on Friday, December 9th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $33.40.

BellRing Brands Company Profile

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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.