Oppenheimer Asset Management Inc. Boosts Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Oppenheimer Asset Management Inc. grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 17.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,090 shares of the company’s stock after buying an additional 7,388 shares during the period. Oppenheimer Asset Management Inc.’s holdings in BellRing Brands were worth $2,981,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC lifted its holdings in shares of BellRing Brands by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock worth $1,393,000 after buying an additional 181 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of BellRing Brands by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock worth $540,000 after purchasing an additional 242 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock worth $828,000 after purchasing an additional 263 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of BellRing Brands by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after purchasing an additional 276 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of BellRing Brands by 51.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after purchasing an additional 374 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $72.09 on Friday. The stock’s 50-day simple moving average is $63.61 and its 200-day simple moving average is $58.57. The firm has a market capitalization of $9.32 billion, a PE ratio of 43.29, a P/E/G ratio of 1.63 and a beta of 0.84. BellRing Brands, Inc. has a fifty-two week low of $44.37 and a fifty-two week high of $73.27.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRBR. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Stephens reiterated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Jefferies Financial Group increased their price target on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price target on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.33.

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.