BellRing Brands (NYSE:BRBR) Raised to Hold at Zacks Research

BellRing Brands (NYSE:BRBR) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on BRBR. Deutsche Bank Aktiengesellschaft set a $62.00 price target on shares of BellRing Brands in a report on Monday, December 15th. Barclays lowered their price objective on shares of BellRing Brands from $44.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Mizuho reduced their target price on BellRing Brands from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. UBS Group reiterated a “neutral” rating and issued a $34.00 price target on shares of BellRing Brands in a research note on Friday, November 28th. Finally, TD Cowen restated a “hold” rating and set a $31.00 price objective (down from $37.00) on shares of BellRing Brands in a research report on Thursday, November 20th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

BellRing Brands Stock Performance

BRBR opened at $26.66 on Monday. BellRing Brands has a 52-week low of $22.45 and a 52-week high of $80.67. The firm has a market cap of $3.19 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 3.65 and a beta of 0.67. The business’s fifty day moving average is $30.09 and its 200-day moving average is $39.92.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Tuesday, November 18th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company 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 firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. On average, research analysts predict that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,970 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the sale, the insider owned 54,812 shares of the company’s stock, valued at $1,695,335.16. This trade represents a 6.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BellRing Brands

Large investors have recently bought and sold shares of the company. Capital Research Global Investors bought a new stake in shares of BellRing Brands during the third quarter worth about $172,312,000. Alyeska Investment Group L.P. bought a new position in BellRing Brands in the 3rd quarter valued at approximately $98,944,000. AQR Capital Management LLC boosted its position in BellRing Brands by 253.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,748,812 shares of the company’s stock worth $136,269,000 after buying an additional 2,689,664 shares during the period. William Blair Investment Management LLC bought a new stake in BellRing Brands during the 2nd quarter worth approximately $124,777,000. Finally, Axiom Investors LLC DE grew its holdings in BellRing Brands by 418.1% during the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock worth $167,455,000 after acquiring an additional 1,814,811 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

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.