BellRing Brands, Inc. (NYSE:BRBR) Short Interest Update

BellRing Brands, Inc. (NYSE:BRBR) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,370,000 shares, a decline of 5.6% from the August 15th total of 2,510,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of BellRing Brands

Institutional investors have recently made changes to their positions in the stock. Truist Financial Corp acquired a new stake in shares of BellRing Brands during the 4th quarter valued at $272,000. Vanguard Personalized Indexing Management LLC increased its position in BellRing Brands by 8.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,960 shares of the company’s stock worth $718,000 after purchasing an additional 957 shares during the last quarter. Norges Bank purchased a new stake in shares of BellRing Brands during the 4th quarter worth about $91,936,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of BellRing Brands by 7.1% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,647 shares of the company’s stock valued at $1,699,000 after buying an additional 2,030 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of BellRing Brands by 52.3% in the 4th quarter. UBS Group AG now owns 183,941 shares of the company’s stock valued at $10,196,000 after buying an additional 63,176 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $59.33 on Thursday. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 1.51 and a beta of 0.85. BellRing Brands has a 1-year low of $39.90 and a 1-year high of $62.76. The company has a 50 day moving average price of $54.29 and a 200 day moving average price of $56.65.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. During the same period last year, the company posted $0.34 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts expect that BellRing Brands will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BRBR shares. JPMorgan Chase & Co. reduced their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Stephens restated an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.64.

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.