BellRing Brands (NYSE:BRBR) Sets New 52-Week High – Here’s Why

BellRing Brands, Inc. (NYSE:BRBR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.83 and last traded at $72.36, with a volume of 47066 shares changing hands. The stock had previously closed at $71.78.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of research reports. Bank of America upped their target price on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Stephens restated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Evercore ISI raised their price target on BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays raised their price target on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

BellRing Brands Stock Performance

The business has a 50-day moving average price of $62.98 and a 200 day moving average price of $58.38. The stock has a market capitalization of $9.42 billion, a P/E ratio of 42.98, a PEG ratio of 1.61 and a beta of 0.84.

Hedge Funds Weigh In On BellRing Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC increased its stake in shares of BellRing Brands by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock worth $1,393,000 after purchasing an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of BellRing Brands by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after purchasing an additional 242 shares during the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock valued at $828,000 after purchasing an additional 263 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of BellRing Brands by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock valued at $440,000 after acquiring an additional 276 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

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.