Amalgamated Bank Lowers Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Amalgamated Bank trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,533 shares of the company’s stock after selling 2,409 shares during the quarter. Amalgamated Bank owned 0.06% of BellRing Brands worth $4,242,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of BellRing Brands during the 3rd quarter worth about $221,000. Bank of New York Mellon Corp boosted its holdings in shares of BellRing Brands by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,382,931 shares of the company’s stock worth $57,018,000 after purchasing an additional 51,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BellRing Brands by 19.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,101 shares of the company’s stock valued at $870,000 after purchasing an additional 3,442 shares in the last quarter. Strs Ohio increased its holdings in shares of BellRing Brands by 14.1% in the third quarter. Strs Ohio now owns 16,200 shares of the company’s stock valued at $667,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in BellRing Brands by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock worth $2,835,000 after buying an additional 494 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of BellRing Brands in a research note on Tuesday. TD Cowen raised their price objective on BellRing Brands from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI lifted their price target on shares of BellRing Brands from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.58.

BellRing Brands Stock Performance

BRBR opened at $58.09 on Thursday. The business’s 50-day simple moving average is $57.88 and its 200-day simple moving average is $54.40. BellRing Brands, Inc. has a one year low of $34.58 and a one year high of $62.76. The stock has a market capitalization of $7.61 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities research analysts forecast that BellRing Brands, Inc. will post 1.67 EPS for the current fiscal year.

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.