BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,606 shares of the company’s stock after purchasing an additional 2,502 shares during the quarter. King Luther Capital Management Corp owned 0.11% of BellRing Brands worth $8,206,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in BellRing Brands by 1,007.4% during the first quarter. SG Americas Securities LLC now owns 68,349 shares of the company’s stock valued at $4,035,000 after buying an additional 62,177 shares during the period. Vanguard Group Inc. raised its holdings in BellRing Brands by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock worth $736,151,000 after purchasing an additional 155,252 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in BellRing Brands during the fourth quarter worth approximately $3,331,000. Artemis Investment Management LLP grew its holdings in BellRing Brands by 13.7% in the first quarter. Artemis Investment Management LLP now owns 774,815 shares of the company’s stock valued at $45,720,000 after purchasing an additional 93,505 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in BellRing Brands in the first quarter valued at approximately $1,021,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BRBR. 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 issued a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Stephens reiterated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.64.

BellRing Brands Stock Performance

NYSE:BRBR opened at $60.47 on Friday. BellRing Brands, Inc. has a one year low of $39.90 and a one year high of $62.76. The stock has a market cap of $7.89 billion, a PE ratio of 41.99, a P/E/G ratio of 1.51 and a beta of 0.85. The stock has a 50 day moving average price of $54.49 and a 200 day moving average price of $56.67.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

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.