Gabelli Funds LLC grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR – Free Report) by 6.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 345,859 shares of the company’s stock after buying an additional 20,744 shares during the period. Gabelli Funds LLC’s holdings in BellRing Brands were worth $12,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in BRBR. Cutler Group LLC CA purchased a new stake in shares of BellRing Brands during the second quarter worth $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of BellRing Brands during the first quarter worth $31,000. Point72 Middle East FZE purchased a new stake in shares of BellRing Brands during the fourth quarter worth $33,000. Smithfield Trust Co purchased a new stake in shares of BellRing Brands during the second quarter worth $50,000. Finally, Signaturefd LLC increased its holdings in shares of BellRing Brands by 1,492.3% in the second quarter. Signaturefd LLC now owns 1,449 shares of the company’s stock worth $53,000 after purchasing an additional 1,358 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.
BellRing Brands Stock Up 0.1 %
NYSE BRBR opened at $45.40 on Tuesday. The company has a 50-day simple moving average of $43.03 and a two-hundred day simple moving average of $39.16. BellRing Brands, Inc. has a 12-month low of $21.78 and a 12-month high of $47.50. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 1.99 and a beta of 0.78.
Analysts Set New Price Targets
BRBR has been the topic of several research analyst reports. Barclays upped their price target on shares of BellRing Brands from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 price target on shares of BellRing Brands in a report on Tuesday, August 8th. Morgan Stanley upped their price target on shares of BellRing Brands from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Stephens cut shares of BellRing Brands from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $45.00 to $47.00 in a report on Wednesday, October 25th. Finally, Bank of America upped their price target on shares of BellRing Brands from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.
BellRing Brands Company 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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