JPMorgan Chase & Co. Cuts BellRing Brands (NYSE:BRBR) Price Target to $64.00

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

Several other brokerages have also issued reports on BRBR. Stifel Nicolaus lifted their price target on BellRing Brands from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on BellRing Brands from $67.00 to $65.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Evercore ISI lifted their price target on BellRing Brands from $60.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Barclays lifted their price target on BellRing Brands from $62.00 to $65.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Finally, Stephens reiterated an equal weight rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands has a consensus rating of Moderate Buy and an average target price of $62.64.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded down $0.47 during trading hours on Wednesday, reaching $54.53. 1,217,975 shares of the stock were exchanged, compared to its average volume of 1,372,130. The stock’s fifty day simple moving average is $54.99 and its 200 day simple moving average is $56.73. BellRing Brands has a 52 week low of $36.73 and a 52 week high of $62.76. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 1.50 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The firm had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. During the same quarter last year, the company earned $0.34 EPS. The company’s revenue was up 15.6% on a year-over-year basis. Research analysts predict that BellRing Brands will post 1.8 EPS for the current fiscal year.

Insider Activity at BellRing Brands

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hanseatic Management Services Inc. lifted its stake in shares of BellRing Brands by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock valued at $828,000 after purchasing an additional 263 shares during the period. Bessemer Group Inc. increased its position in BellRing Brands by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock valued at $440,000 after buying an additional 276 shares in the last quarter. Spire Wealth Management increased its position in BellRing Brands by 40.0% in the 4th quarter. Spire Wealth Management now owns 1,050 shares of the company’s stock valued at $56,000 after buying an additional 300 shares in the last quarter. Parallel Advisors LLC increased its position in BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 361 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after buying an additional 374 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.