Nicholas Investment Partners LP Raises Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Nicholas Investment Partners LP raised its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,771 shares of the company’s stock after purchasing an additional 843 shares during the quarter. Nicholas Investment Partners LP’s holdings in BellRing Brands were worth $5,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BRBR. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands in the second quarter valued at $28,000. Rise Advisors LLC purchased a new stake in BellRing Brands in the first quarter valued at $32,000. Parallel Advisors LLC raised its position in shares of BellRing Brands by 153.6% in the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after acquiring an additional 361 shares during the period. GAMMA Investing LLC raised its position in shares of BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after acquiring an additional 615 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after acquiring an additional 374 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 1.3 %

Shares of NYSE BRBR opened at $58.01 on Thursday. The stock has a market cap of $7.57 billion, a PE ratio of 40.28, a P/E/G ratio of 1.48 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $62.76. The company has a 50-day moving average of $54.17 and a 200 day moving average of $56.59.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The company had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, sell-side analysts forecast that BellRing Brands, Inc. will post 1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BRBR. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stephens reiterated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.64.

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.