BellRing Brands (NYSE:BRBR) Receives New Coverage from Analysts at TD Cowen

Research analysts at TD Cowen assumed coverage on shares of BellRing Brands (NYSE:BRBR) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $64.00 price target on the stock. TD Cowen’s price target would indicate a potential upside of 18.56% from the stock’s previous close.

A number of other equities analysts also recently issued reports on BRBR. Needham & Company LLC increased their price target on BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Truist Financial downgraded BellRing Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Morgan Stanley upped their price objective on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Barclays upped their price objective on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their price objective on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.62.

BellRing Brands Stock Down 0.5 %

Shares of BellRing Brands stock opened at $53.98 on Monday. The stock’s fifty day moving average is $57.93 and its two-hundred day moving average is $53.27. The company has a market capitalization of $7.07 billion, a PE ratio of 43.53, a price-to-earnings-growth ratio of 2.05 and a beta of 0.83. BellRing Brands has a 52 week low of $34.58 and a 52 week high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The company had revenue of $430.40 million for the quarter, compared to the consensus estimate of $407.91 million. As a group, research analysts anticipate that BellRing Brands will post 1.67 earnings per share for the current year.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total value of $57,810.00. Following the completion of the sale, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRBR. Advisor Group Holdings Inc. increased its holdings in shares of BellRing Brands by 1,839.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock valued at $78,000 after purchasing an additional 3,237 shares during the period. Raymond James & Associates acquired a new stake in BellRing Brands during the first quarter worth about $3,931,000. Bank of New York Mellon Corp grew its holdings 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 worth $24,599,000 after acquiring an additional 915,857 shares during the period. PNC Financial Services Group Inc. grew its holdings 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 worth $347,000 after acquiring an additional 14,912 shares during the period. Finally, Bank of Montreal Can acquired a new stake in BellRing Brands during the first quarter worth about $221,000. 94.97% of the stock is owned by institutional investors and hedge funds.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.