Edgestream Partners L.P. Has $3.06 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Edgestream Partners L.P. cut its stake in BellRing Brands, Inc. (NYSE:BRBR) by 70.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,453 shares of the company’s stock after selling 118,257 shares during the period. Edgestream Partners L.P.’s holdings in BellRing Brands were worth $3,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in BellRing Brands by 165.3% during the 2nd 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 increased its holdings in BellRing Brands by 129.9% during the 2nd quarter. First Hawaiian Bank now owns 14,613 shares of the company’s stock valued at $835,000 after purchasing an additional 8,256 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands during the 2nd quarter valued at $28,000. M&G Plc increased its holdings in BellRing Brands by 12.4% during the 2nd quarter. M&G Plc now owns 157,181 shares of the company’s stock valued at $8,959,000 after purchasing an additional 17,383 shares in the last quarter. Finally, Andina Capital Management LLC increased its holdings in BellRing Brands by 14.2% during the 2nd quarter. Andina Capital Management LLC now owns 6,936 shares of the company’s stock valued at $396,000 after purchasing an additional 862 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $78.46 on Monday. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. The stock’s 50-day moving average is $67.46 and its 200-day moving average is $59.99. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, equities analysts expect that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BRBR. Mizuho raised their price target on BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. DA Davidson reissued a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Citigroup lifted their target price on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group lifted their target price on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Stephens lifted their target price on BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.