BellRing Brands, Inc. (NYSE:BRBR) Stake Boosted by Verition Fund Management LLC

Verition Fund Management LLC increased its stake in BellRing Brands, Inc. (NYSE:BRBR) by 179.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 461,864 shares of the company’s stock after acquiring an additional 296,397 shares during the period. Verition Fund Management LLC’s holdings in BellRing Brands were worth $28,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 in the last quarter. First Hawaiian Bank lifted its stake in shares of BellRing Brands by 129.9% in the 2nd quarter. First Hawaiian Bank now owns 14,613 shares of the company’s stock worth $835,000 after acquiring an additional 8,256 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of BellRing Brands in the second quarter valued at approximately $28,000. M&G Plc increased its stake in shares of BellRing Brands by 12.4% during the second quarter. M&G Plc now owns 157,181 shares of the company’s stock valued at $8,959,000 after acquiring an additional 17,383 shares during the period. Finally, Andina Capital Management LLC raised its holdings in BellRing Brands by 14.2% during the second quarter. Andina Capital Management LLC now owns 6,936 shares of the company’s stock worth $396,000 after purchasing an additional 862 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock opened at $77.16 on Friday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 41.26, a P/E/G ratio of 2.59 and a beta of 0.84. The company has a 50 day moving average price of $67.10 and a 200 day moving average price of $59.85.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts forecast that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRBR. Truist Financial increased their price target on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, DA Davidson reiterated a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.60.

BellRing Brands 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.