Somerset Trust Co Purchases New Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Somerset Trust Co acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, Holdings Channel reports. The fund acquired 2,700 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wasatch Advisors LP raised its stake in shares of BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares during the last quarter. Franklin Resources Inc. raised its position in BellRing Brands by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after buying an additional 380,216 shares during the last quarter. State Street Corp lifted its stake in shares of BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after acquiring an additional 50,339 shares during the period. Wellington Management Group LLP boosted its holdings in shares of BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after acquiring an additional 281,667 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after acquiring an additional 457,796 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Trading Down 1.2 %

Shares of BRBR opened at $72.37 on Friday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $79.90. The stock has a market cap of $9.32 billion, a P/E ratio of 38.70, a PEG ratio of 2.39 and a beta of 0.86. The company has a 50-day moving average of $75.31 and a two-hundred day moving average of $64.19.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI raised their price target on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Mizuho upped their price objective on BellRing Brands from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Bank of America increased their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, TD Cowen boosted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $76.67.

About BellRing Brands

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.