BellRing Brands (NYSE:BRBR) Reaches New 52-Week Low Following Analyst Downgrade

Shares of BellRing Brands Inc. (NYSE:BRBR) hit a new 52-week low on Wednesday after TD Cowen lowered their price target on the stock from $45.00 to $37.00. TD Cowen currently has a buy rating on the stock. BellRing Brands traded as low as $27.52 and last traded at $27.6390, with a volume of 4735866 shares. The stock had previously closed at $28.27.

Several other analysts also recently weighed in on BRBR. Truist Financial dropped their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Zacks Research lowered shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their target price on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Mizuho dropped their price target on BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Finally, Morgan Stanley cut their price objective on BellRing Brands from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus price target of $57.56.

Hedge Funds Weigh In On BellRing Brands

Hedge funds have recently made changes to their positions in the company. Argonautica Private Wealth Management Inc. grew its position in shares of BellRing Brands by 2.5% in the first quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company’s stock valued at $478,000 after purchasing an additional 157 shares in the last quarter. McIlrath & Eck LLC lifted its position in BellRing Brands by 13.6% during the first quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock worth $105,000 after buying an additional 169 shares in the last quarter. Stephens Inc. AR boosted its stake in BellRing Brands by 5.0% during the first quarter. Stephens Inc. AR now owns 3,705 shares of the company’s stock worth $276,000 after buying an additional 175 shares during the last quarter. TCTC Holdings LLC grew its holdings in BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after buying an additional 190 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in BellRing Brands by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,083 shares of the company’s stock valued at $526,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

The business has a 50 day simple moving average of $33.86 and a 200-day simple moving average of $48.25. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.61 and a beta of 0.70.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $282.40 million during the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. Equities analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

BellRing Brands Company 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.