BellRing Brands (NYSE:BRBR) Given New $79.00 Price Target at Barclays

BellRing Brands (NYSE:BRBR) had its target price boosted by Barclays from $74.00 to $79.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on BRBR. Evercore ISI raised their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. DA Davidson reissued a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday. Finally, Truist Financial boosted their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday. 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, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Stock Up 1.4 %

NYSE:BRBR traded up $1.06 on Thursday, reaching $77.55. The stock had a trading volume of 140,077 shares, compared to its average volume of 1,205,949. The company has a market capitalization of $10.02 billion, a P/E ratio of 40.93, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The stock has a fifty day moving average price of $65.25 and a 200-day moving average price of $59.19. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $77.90.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same quarter last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Sell-side analysts predict that BellRing Brands will post 2.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BRBR. Vanguard Group Inc. lifted its holdings in BellRing Brands by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after purchasing an additional 698,121 shares during the last quarter. Wasatch Advisors LP raised its position in shares of BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after purchasing an additional 494,669 shares during the period. State Street Corp lifted its stake in shares of BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after buying an additional 50,339 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after buying an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after buying an additional 457,796 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

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.