Assenagon Asset Management S.A. Buys 661,774 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Assenagon Asset Management S.A. grew its stake in BellRing Brands, Inc. (NYSE:BRBR) by 200.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 992,585 shares of the company’s stock after purchasing an additional 661,774 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.77% of BellRing Brands worth $74,781,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BRBR. Wasatch Advisors LP lifted its stake in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after purchasing an additional 380,216 shares in the last quarter. State Street Corp boosted its holdings in BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Wellington Management Group LLP grew its position in BellRing Brands by 11.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after purchasing an additional 281,667 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after buying an additional 457,796 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR stock opened at $72.89 on Thursday. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.59 and a beta of 0.86. The company’s fifty day simple moving average is $75.12 and its two-hundred day simple moving average is $64.06. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $79.90.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BRBR shares. Stephens upped their target price on BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. Truist Financial upped their price objective on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Barclays lifted their target price on BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. DA Davidson restated a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, November 19th. Finally, TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

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.