Carnegie Investment Counsel Trims Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Carnegie Investment Counsel reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 54,917 shares of the company’s stock after selling 750 shares during the quarter. Carnegie Investment Counsel’s holdings in BellRing Brands were worth $4,137,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of BellRing Brands by 33.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 203,732 shares of the company’s stock valued at $11,641,000 after buying an additional 51,498 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of BellRing Brands during the 2nd quarter valued at $1,000,000. Dimensional Fund Advisors LP boosted its holdings in shares of BellRing Brands by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after buying an additional 86,992 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of BellRing Brands by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after buying an additional 242 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of BellRing Brands by 316.6% during the 2nd quarter. XTX Topco Ltd now owns 32,215 shares of the company’s stock valued at $1,841,000 after buying an additional 24,482 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Evercore ISI upped their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Bank of America upped their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Citigroup upped their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Stephens upped their price target on shares of BellRing Brands from $61.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $72.37 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90. The business has a 50-day simple moving average of $75.31 and a two-hundred day simple moving average of $64.19. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same quarter in the previous year, the firm earned $0.41 EPS. BellRing Brands’s revenue was up 17.6% on a year-over-year basis. As a group, research analysts predict that BellRing Brands, Inc. will post 2.16 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.