BellRing Brands, Inc. (NYSE:BRBR) Stake Decreased by Argent Capital Management LLC

Argent Capital Management LLC lessened its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 96.5% in the third quarter, HoldingsChannel reports. The fund owned 26,313 shares of the company’s stock after selling 718,632 shares during the period. Argent Capital Management LLC’s holdings in BellRing Brands were worth $1,598,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in BellRing Brands in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of BellRing Brands during the 3rd quarter valued at about $31,000. Quarry LP grew its stake in BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after purchasing an additional 615 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of BellRing Brands by 51.4% during the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after buying an additional 374 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BRBR. Truist Financial lifted their price target on shares of BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on shares of BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Bank of America raised their price objective on shares of BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Barclays boosted their price target on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $65.71.

BellRing Brands Stock Down 0.6 %

NYSE BRBR traded down $0.40 during trading hours on Thursday, reaching $64.85. 79,744 shares of the company were exchanged, compared to its average volume of 1,226,761. The business’s 50 day simple moving average is $59.65 and its 200-day simple moving average is $57.18. BellRing Brands, Inc. has a 1 year low of $42.71 and a 1 year high of $67.12. The stock has a market capitalization of $8.46 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The business had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

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.