BellRing Brands (NYSE:BRBR) Reaches New 52-Week High at $47.50

Shares of BellRing Brands, Inc. (NYSE:BRBR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.50 and last traded at $47.08, with a volume of 51934 shares. The stock had previously closed at $46.68.

Analyst Ratings Changes

A number of research firms have recently issued reports on BRBR. Needham & Company LLC restated a “buy” rating and issued a $44.00 price target on shares of BellRing Brands in a research note on Tuesday, August 8th. Stephens downgraded BellRing Brands from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $45.00 to $47.00 in a research report on Wednesday, October 25th. Barclays lifted their target price on BellRing Brands from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Morgan Stanley lifted their target price on BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, Bank of America lifted their target price on BellRing Brands from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

BellRing Brands Price Performance

The company has a 50-day moving average price of $42.53 and a 200 day moving average price of $38.84. The firm has a market capitalization of $6.21 billion, a PE ratio of 40.93, a P/E/G ratio of 1.99 and a beta of 0.78.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of BellRing Brands by 2.3% in the second quarter. BlackRock Inc. now owns 15,107,570 shares of the company’s stock worth $552,937,000 after purchasing an additional 333,164 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BellRing Brands by 14.6% in the third quarter. Vanguard Group Inc. now owns 13,007,535 shares of the company’s stock worth $268,085,000 after purchasing an additional 1,652,836 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of BellRing Brands by 1.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,684,211 shares of the company’s stock worth $166,370,000 after purchasing an additional 97,600 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of BellRing Brands by 19.8% in the second quarter. Wasatch Advisors LP now owns 4,547,495 shares of the company’s stock worth $166,438,000 after purchasing an additional 751,027 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of BellRing Brands by 1.9% in the third quarter. FMR LLC now owns 4,524,052 shares of the company’s stock worth $186,527,000 after purchasing an additional 84,750 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.