BellRing Brands (NYSE:BRBR) Trading 5.4% Higher – Still a Buy?

BellRing Brands Inc. (NYSE:BRBR) shot up 5.4% during trading on Monday . The stock traded as high as $16.08 and last traded at $16.1850. 1,713,826 shares traded hands during trading, a decline of 58% from the average session volume of 4,078,652 shares. The stock had previously closed at $15.35.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BRBR. Jefferies Financial Group reduced their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 16th. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of BellRing Brands in a report on Wednesday, February 4th. UBS Group set a $23.00 price objective on shares of BellRing Brands in a research note on Wednesday, February 4th. Bank of America boosted their target price on shares of BellRing Brands from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Morgan Stanley set a $32.00 target price on BellRing Brands in a research report on Friday, January 16th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

BellRing Brands Trading Up 5.2%

The stock has a fifty day simple moving average of $19.61 and a two-hundred day simple moving average of $26.99. The firm has a market cap of $1.89 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 3.03 and a beta of 0.69.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $537.30 million for the quarter, compared to the consensus estimate of $505.44 million. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein purchased 2,000 shares of the business’s stock in a transaction on Friday, February 13th. The stock was purchased at an average cost of $17.75 per share, with a total value of $35,500.00. Following the acquisition, the director directly owned 7,391 shares in the company, valued at approximately $131,190.25. This trade represents a 37.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BellRing Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of BellRing Brands by 820.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,808 shares of the company’s stock worth $1,662,000 after purchasing an additional 42,612 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in BellRing Brands by 331.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company’s stock valued at $35,733,000 after purchasing an additional 1,026,921 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in BellRing Brands during the third quarter valued at approximately $1,287,000. Boothbay Fund Management LLC grew its stake in BellRing Brands by 1,954.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company’s stock worth $7,514,000 after buying an additional 196,655 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in BellRing Brands by 17.0% in the 3rd quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock worth $91,604,000 after buying an additional 366,121 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.