BellRing Brands (NYSE:BRBR) Shares Up 5.4% After Analyst Upgrade

Shares of BellRing Brands Inc. (NYSE:BRBR) were up 5.4% during trading on Tuesday after DA Davidson upgraded the stock to a strong-buy rating. The stock traded as high as $14.03 and last traded at $14.1750. 2,364,686 shares were traded during mid-day trading, a decline of 50% from the average session volume of 4,727,769 shares. The stock had previously closed at $13.45.

Several other analysts have also recently issued reports on the company. UBS Group reduced their price objective on BellRing Brands from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Barclays lowered their target price on BellRing Brands from $22.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley restated an “equal weight” rating and set a $13.00 price target (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. Jefferies Financial Group reduced their price target on BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $21.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.47.

Insider Buying and Selling at BellRing Brands

In other news, Director David Isaiah Finkelstein acquired 4,000 shares of BellRing Brands stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the acquisition, the director owned 13,326 shares of the company’s stock, valued at $122,998.98. This trade represents a 42.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently bought and sold shares of BRBR. Goldman Sachs Group Inc. grew its position in shares of BellRing Brands by 20.2% during the first quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company’s stock worth $18,868,000 after acquiring an additional 42,666 shares during the last quarter. Caxton Associates LLP purchased a new position in BellRing Brands during the 1st quarter worth $278,000. Northwestern Mutual Wealth Management Co. raised its position in BellRing Brands by 42.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock worth $72,000 after buying an additional 373 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of BellRing Brands by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,595 shares of the company’s stock worth $92,000 after acquiring an additional 755 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of BellRing Brands by 4.2% in the 2nd quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after acquiring an additional 9,179 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 5.4%

The firm has a market cap of $1.65 billion, a PE ratio of 10.91, a P/E/G ratio of 6.83 and a beta of 0.45. The company’s fifty day moving average price is $10.70 and its two-hundred day moving average price is $17.21.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The firm had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. During the same quarter in the previous year, the business earned $0.53 EPS. BellRing Brands’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts predict that BellRing Brands Inc. will post 1.22 earnings per share for the current year.

About BellRing Brands

BellRing Brands, Inc is a consumer packaged goods company specializing in high?protein, better?for?you nutrition products. Formed in March 2020 as a spin?off from Post Holdings, the company focuses on delivering convenient protein solutions to health?conscious consumers through a portfolio of well?known and emerging brands.

The company’s product offerings include ready?to?drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.