Geode Capital Management LLC Sells 39,230 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Geode Capital Management LLC reduced its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,239,814 shares of the company’s stock after selling 39,230 shares during the quarter. Geode Capital Management LLC owned approximately 1.73% of BellRing Brands worth $136,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Braun Stacey Associates Inc. purchased a new position in BellRing Brands in the third quarter valued at about $18,680,000. Dimensional Fund Advisors LP grew its holdings in BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after purchasing an additional 86,992 shares during the period. WINTON GROUP Ltd increased its position in BellRing Brands by 186.5% in the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after buying an additional 29,060 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of BellRing Brands by 28.0% in the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock valued at $27,094,000 after buying an additional 103,604 shares during the period. Finally, Natixis Advisors LLC lifted its position in shares of BellRing Brands by 41.2% during the 2nd quarter. Natixis Advisors LLC now owns 100,886 shares of the company’s stock valued at $5,765,000 after buying an additional 29,413 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.1 %

NYSE:BRBR opened at $77.90 on Tuesday. The stock has a market cap of $10.03 billion, a P/E ratio of 41.66, a PEG ratio of 2.59 and a beta of 0.86. The business’s 50-day moving average price is $71.08 and its two-hundred day moving average price is $61.50. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $79.90.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. During the same period last year, the firm posted $0.41 earnings per share. BellRing Brands’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities research analysts expect that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America lifted their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Truist Financial boosted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Citigroup upped their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group increased their target price on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.60.

About BellRing Brands

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.