Raymond James & Associates Invests $654,000 in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James & Associates purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,807 shares of the company’s stock, valued at approximately $654,000.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in BellRing Brands by 50.9% during the third quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock valued at $110,813,000 after purchasing an additional 906,559 shares during the period. Lord Abbett & CO. LLC boosted 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 valued at $44,298,000 after buying an additional 786,756 shares during the period. American Century Companies Inc. acquired a new position in shares of BellRing Brands in the third quarter valued at approximately $23,552,000. Boston Partners acquired a new position in shares of BellRing Brands in the third quarter valued at approximately $19,316,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of BellRing Brands by 355.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 216,455 shares of the company’s stock valued at $8,924,000 after buying an additional 168,892 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

BRBR has been the subject of several research analyst reports. Mizuho upped their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 18th. TD Cowen started coverage on shares of BellRing Brands in a research report on Monday. They issued a “buy” rating and a $64.00 price objective on the stock. Citigroup started coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Truist Financial lowered shares of BellRing Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.62.

BellRing Brands Price Performance

Shares of BRBR opened at $55.62 on Thursday. The firm has a market capitalization of $7.29 billion, a PE ratio of 44.85, a PEG ratio of 2.09 and a beta of 0.83. The company’s 50-day moving average is $57.73 and its 200-day moving average is $53.48. BellRing Brands, Inc. has a fifty-two week low of $34.58 and a fifty-two week high of $62.76.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. Analysts predict that BellRing Brands, Inc. will post 1.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total value of $57,810.00. Following the transaction, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.80% of the company’s stock.

BellRing Brands 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.