Readystate Asset Management LP Has $1.49 Million Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Readystate Asset Management LP raised its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,858 shares of the company’s stock after purchasing an additional 2,358 shares during the quarter. Readystate Asset Management LP’s holdings in BellRing Brands were worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its position in BellRing Brands by 1,839.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock worth $78,000 after buying an additional 3,237 shares during the period. Raymond James & Associates bought a new position in BellRing Brands during the 1st quarter worth $3,931,000. Bank of New York Mellon Corp increased its position in BellRing Brands by 610.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,065,818 shares of the company’s stock worth $24,599,000 after buying an additional 915,857 shares during the period. PNC Financial Services Group Inc. increased its position in BellRing Brands by 15,216.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,010 shares of the company’s stock worth $347,000 after buying an additional 14,912 shares during the period. Finally, Bank of Montreal Can bought a new position in BellRing Brands during the 1st quarter worth $221,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Down 0.2 %

BellRing Brands stock traded down $0.09 during midday trading on Thursday, reaching $54.23. The company’s stock had a trading volume of 1,183,971 shares, compared to its average volume of 1,231,908. The business has a 50-day moving average price of $58.04 and a 200-day moving average price of $53.01. BellRing Brands, Inc. has a 52 week low of $34.58 and a 52 week high of $62.76. The stock has a market cap of $7.10 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. As a group, research analysts predict that BellRing Brands, Inc. will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on BRBR. Morgan Stanley raised their price target on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Citigroup began coverage on BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target on the stock. Stephens restated an “equal weight” rating and issued a $51.00 price target on shares of BellRing Brands in a research report on Tuesday, February 6th. Stifel Nicolaus raised their price target on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Barclays raised their price target on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.08.

Insider Activity

In other news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now directly owns 24,646 shares of the company’s stock, valued at $1,424,785.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

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.