Russell Investments Group Ltd. lowered its stake in BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,382 shares of the company’s stock after selling 11,504 shares during the quarter. Russell Investments Group Ltd.’s holdings in BellRing Brands were worth $1,087,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in BellRing Brands by 328.4% during the first quarter. BlackRock Inc. now owns 12,967,658 shares of the company’s stock worth $299,293,000 after buying an additional 9,940,436 shares during the last quarter. Vanguard Group Inc. raised its holdings in BellRing Brands by 183.4% during the first 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 last quarter. State Street Corp raised its holdings in BellRing Brands by 332.1% during the first 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 last quarter. Dimensional Fund Advisors LP raised its holdings in BellRing Brands by 1,640.7% during the first 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 last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in BellRing Brands by 11,443.3% during the first 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 last quarter. Institutional investors own 92.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on BRBR. Stifel Nicolaus began coverage on shares of BellRing Brands in a research note on Thursday, April 13th. They issued a “buy” rating and a $39.00 target price for the company. Jefferies Financial Group upped their target price on shares of BellRing Brands from $38.00 to $42.00 in a research note on Friday, April 28th. William Blair began coverage on shares of BellRing Brands in a research note on Wednesday, April 26th. They issued an “outperform” rating for the company. The Goldman Sachs Group upped their target price on shares of BellRing Brands from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Finally, Needham & Company LLC upped their target price on shares of BellRing Brands from $40.00 to $44.00 in a research note on Wednesday, May 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, BellRing Brands has an average rating of “Buy” and a consensus target price of $40.15.
Insider Transactions at BellRing Brands
BellRing Brands Stock Up 1.3 %
Shares of NYSE:BRBR opened at $36.57 on Friday. The firm has a market capitalization of $4.86 billion, a PE ratio of 33.25, a P/E/G ratio of 2.08 and a beta of 0.87. BellRing Brands, Inc. has a twelve month low of $20.20 and a twelve month high of $37.55. The company has a 50-day moving average price of $34.75 and a two-hundred day moving average price of $29.87.
BellRing Brands (NYSE:BRBR – Get Rating) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. BellRing Brands had a net margin of 9.87% and a negative return on equity of 42.81%. The firm had revenue of $385.60 million for the quarter, compared to the consensus estimate of $371.26 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts anticipate that BellRing Brands, Inc. will post 1.27 earnings per share for the current fiscal year.
About BellRing Brands
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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