BellRing Brands (NYSE:BRBR) Price Target Raised to $32.00

BellRing Brands (NYSE:BRBR) had its target price upped by research analysts at Bank of America from $28.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 11.07% from the company’s previous close.

A number of other analysts have also recently weighed in on BRBR. Deutsche Bank Aktiengesellschaft set a $62.00 target price on shares of BellRing Brands in a research note on Monday. DA Davidson set a $38.00 price target on BellRing Brands in a report on Thursday, November 20th. UBS Group reiterated a “neutral” rating and issued a $34.00 price objective on shares of BellRing Brands in a report on Friday, November 28th. Cowen downgraded shares of BellRing Brands from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of BellRing Brands in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded down $0.47 during trading on Friday, reaching $28.81. 1,579,933 shares of the company’s stock were exchanged, compared to its average volume of 2,591,748. BellRing Brands has a 1-year low of $22.45 and a 1-year high of $80.67. The company has a market cap of $3.45 billion, a P/E ratio of 17.15, a PEG ratio of 4.01 and a beta of 0.67. The firm’s 50-day moving average price is $30.83 and its 200 day moving average price is $41.99.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has authorized a share buyback program on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the transaction, the insider directly owned 54,812 shares of the company’s stock, valued at $1,695,335.16. The trade was a 6.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in BRBR. TT International Asset Management LTD lifted its position in shares of BellRing Brands by 199.8% during the second quarter. TT International Asset Management LTD now owns 73,616 shares of the company’s stock valued at $4,265,000 after purchasing an additional 49,064 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of BellRing Brands by 91.5% during the 2nd quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock worth $1,311,000 after buying an additional 10,814 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of BellRing Brands by 216.1% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,006 shares of the company’s stock worth $1,043,000 after buying an additional 12,310 shares during the last quarter. MRA Advisory Group bought a new position in shares of BellRing Brands in the second quarter valued at approximately $448,000. Finally, Wilson Asset Management International PTY Ltd. increased its position in shares of BellRing Brands by 11.4% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 93,373 shares of the company’s stock valued at $5,409,000 after acquiring an additional 9,554 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

About BellRing Brands

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.