BellRing Brands (NYSE:BRBR) PT Raised to $65.00

BellRing Brands (NYSE:BRBR) had its price target hoisted by JPMorgan Chase & Co. from $64.00 to $65.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

BRBR has been the subject of a number of other research reports. Mizuho upped their price objective on shares of BellRing Brands from $60.00 to $68.00 and gave the company a buy rating in a report on Wednesday, May 8th. Needham & Company LLC reissued a buy rating and issued a $62.00 price target on shares of BellRing Brands in a research note on Tuesday, May 7th. 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, May 8th. Barclays upped their price objective on BellRing Brands from $62.00 to $65.00 and gave the company an overweight rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus raised their target price on BellRing Brands from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $62.43.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $50.65 on Friday. The stock’s 50 day simple moving average is $57.14 and its 200-day simple moving average is $56.98. The stock has a market cap of $6.61 billion, a P/E ratio of 35.17, a P/E/G ratio of 1.43 and a beta of 0.84. BellRing Brands has a 1-year low of $34.98 and a 1-year high of $62.76.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, research analysts expect that BellRing Brands will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total transaction of $902,250.00. Following the completion of the transaction, the chairman now directly owns 215,054 shares in the company, valued at approximately $12,935,498.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sarasin & Partners LLP lifted its holdings in BellRing Brands by 14.3% during the 2nd quarter. Sarasin & Partners LLP now owns 80,000 shares of the company’s stock worth $4,571,000 after buying an additional 10,000 shares in the last quarter. Raymond James & Associates raised its stake in shares of BellRing Brands by 57.1% in the second quarter. Raymond James & Associates now owns 21,290 shares of the company’s stock valued at $1,217,000 after acquiring an additional 7,739 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in BellRing Brands in the second quarter valued at $222,000. Assenagon Asset Management S.A. grew its stake in BellRing Brands by 1,006.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock worth $21,290,000 after purchasing an additional 338,903 shares in the last quarter. Finally, Andina Capital Management LLC increased its holdings in BellRing Brands by 14.2% during the 2nd quarter. Andina Capital Management LLC now owns 6,936 shares of the company’s stock worth $396,000 after purchasing an additional 862 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.