Banco Santander S.A. Makes New $672,000 Investment in BellRing Brands, Inc. (NYSE:BRBR)

Banco Santander S.A. bought a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 11,059 shares of the company’s stock, valued at approximately $672,000.

Several other hedge funds have also recently bought and sold shares of BRBR. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands in the second quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in BellRing Brands during the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its holdings in BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after acquiring an additional 474 shares during the period. Quarry LP grew its position in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after acquiring an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after purchasing an additional 615 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 2.8 %

Shares of NYSE BRBR opened at $78.60 on Friday. The firm’s 50-day moving average price is $65.65 and its two-hundred day moving average price is $59.34. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $78.68. The stock has a market capitalization of $10.16 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities research analysts expect that BellRing Brands, Inc. will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on BRBR shares. Bank of America upped their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Truist Financial boosted their price target on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average target price of $74.27.

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.