BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 37.0% in the 3rd quarter, Holdings Channel reports. The fund owned 201,090 shares of the company’s stock after selling 117,903 shares during the period. Eagle Asset Management Inc.’s holdings in BellRing Brands were worth $12,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. D. E. Shaw & Co. Inc. increased its holdings in BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after purchasing an additional 847,161 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of BellRing Brands by 665.2% during the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after buying an additional 545,371 shares in the last quarter. E. Ohman J or Asset Management AB acquired a new stake in BellRing Brands in the third quarter valued at $30,753,000. Point72 Asset Management L.P. boosted its stake in BellRing Brands by 23.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after acquiring an additional 402,666 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in BellRing Brands by 47.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock worth $69,885,000 after acquiring an additional 393,262 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BRBR shares. Evercore ISI increased their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Jefferies Financial Group upped their price target on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Stifel Nicolaus increased their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Price Performance

BRBR opened at $78.60 on Friday. The stock’s 50 day moving average price is $65.65 and its 200 day moving average price is $59.34. The stock has a market cap of $10.16 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.56 and a beta of 0.84. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $78.68.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts anticipate that BellRing Brands, Inc. will post 2.17 EPS for the current year.

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.