BellRing Brands, Inc. (NYSE:BRBR) Short Interest Up 8.6% in March

BellRing Brands, Inc. (NYSE:BRBR) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,790,000 shares, a growth of 8.6% from the March 15th total of 3,490,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 3.1 days.

Insider Buying and Selling

In related news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total value of $57,810.00. Following the sale, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of BellRing Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new position in shares of BellRing Brands in the third quarter worth about $697,000. International Assets Investment Management LLC purchased a new position in BellRing Brands in the 4th quarter worth approximately $5,076,000. Federated Hermes Inc. lifted its position in BellRing Brands by 19.8% in the third quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock valued at $10,914,000 after purchasing an additional 43,766 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of BellRing Brands by 273.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock worth $44,298,000 after purchasing an additional 786,756 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of BellRing Brands in the third quarter worth $19,316,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of BellRing Brands in a research note on Thursday, February 1st. They set a “buy” rating and a $67.00 price target on the stock. Mizuho boosted their price objective on BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Barclays raised their target price on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley upped their price target on BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Stephens restated an “equal weight” rating and issued a $51.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $57.08.

BellRing Brands Price Performance

BRBR stock traded down $0.49 during midday trading on Wednesday, reaching $54.72. The company had a trading volume of 419,755 shares, compared to its average volume of 1,228,126. The firm has a 50-day moving average price of $58.22 and a 200-day moving average price of $52.99. The company has a market capitalization of $7.17 billion, a P/E ratio of 44.52, a P/E/G ratio of 2.07 and a beta of 0.83. BellRing Brands has a 1 year low of $34.48 and a 1 year high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The company had revenue of $430.40 million during the quarter, compared to analyst estimates of $407.91 million. On average, equities analysts predict that BellRing Brands will post 1.67 EPS for the current year.

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.