Brokerages Set BellRing Brands, Inc. (NYSE:BRBR) Price Target at $77.63

Shares of BellRing Brands, Inc. (NYSE:BRBR) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $77.00.

Several research firms recently commented on BRBR. Mizuho reduced their price target on BellRing Brands from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley began coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Barclays set a $75.00 price target on BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Truist Financial reduced their price target on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup reduced their price target on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $63.01 on Wednesday. BellRing Brands has a 1 year low of $48.06 and a 1 year high of $80.67. The stock has a market capitalization of $8.00 billion, a P/E ratio of 29.58, a PEG ratio of 2.24 and a beta of 0.86. The stock has a 50-day simple moving average of $70.13 and a 200-day simple moving average of $73.02.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $577.56 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts predict that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after buying an additional 366 shares during the last quarter. TCTC Holdings LLC grew its stake in BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock worth $30,000 after buying an additional 190 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock worth $33,000 after buying an additional 283 shares during the last quarter. First Horizon Advisors Inc. grew its stake in BellRing Brands by 283.3% during the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock worth $34,000 after buying an additional 340 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in BellRing Brands by 149.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after buying an additional 310 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Company Profile

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.