BellRing Brands (NYSE:BRBR) Shares Up 8.1% – Here’s Why

BellRing Brands Inc. (NYSE:BRBR) shot up 8.1% during trading on Tuesday . The stock traded as high as $10.86 and last traded at $10.99. Approximately 1,348,047 shares were traded during trading, a decline of 70% from the average session volume of 4,468,039 shares. The stock had previously closed at $10.17.

Analyst Ratings Changes

A number of brokerages have weighed in on BRBR. UBS Group lowered their target price on BellRing Brands from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Sanford C. Bernstein lowered shares of BellRing Brands from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $35.00 to $11.00 in a research note on Wednesday, May 6th. Jefferies Financial Group dropped their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. DA Davidson reduced their price target on shares of BellRing Brands from $34.00 to $13.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of BellRing Brands from $21.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, BellRing Brands currently has a consensus rating of “Hold” and an average price target of $22.47.

BellRing Brands Stock Up 8.2%

The business has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $18.42. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 4.64 and a beta of 0.56.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.17). The business had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, sell-side analysts anticipate that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director David Isaiah Finkelstein acquired 4,000 shares of BellRing Brands stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the acquisition, the director directly owned 13,326 shares of the company’s stock, valued at $122,998.98. This represents a 42.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in BellRing Brands during the 3rd quarter worth approximately $172,312,000. AQR Capital Management LLC lifted its holdings in shares of BellRing Brands by 86.9% in the fourth quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock valued at $187,013,000 after purchasing an additional 3,258,035 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of BellRing Brands in the third quarter valued at approximately $98,944,000. The Manufacturers Life Insurance Company boosted its position in shares of BellRing Brands by 156.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock valued at $102,380,000 after buying an additional 2,336,029 shares during the last quarter. Finally, River Road Asset Management LLC bought a new stake in BellRing Brands during the fourth quarter worth $56,465,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Company Profile

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.