Acadian Asset Management LLC Decreases Stake in BellRing Brands, Inc. (NYSE:BRBR)

Acadian Asset Management LLC lessened its stake in BellRing Brands, Inc. (NYSE:BRBR) by 77.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,845 shares of the company’s stock after selling 6,260 shares during the quarter. Acadian Asset Management LLC’s holdings in BellRing Brands were worth $105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the second quarter worth $28,000. Rise Advisors LLC acquired a new position in shares of BellRing Brands during the 1st quarter worth $32,000. Parallel Advisors LLC boosted its position in shares of BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares in the last quarter. GAMMA Investing LLC grew its stake in BellRing Brands by 165.3% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after acquiring an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in BellRing Brands by 51.4% during 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 in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

NYSE BRBR opened at $60.47 on Friday. The company has a market cap of $7.89 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.51 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $62.76. The company has a 50-day moving average of $54.49 and a 200-day moving average of $56.65.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. The firm had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. BellRing Brands’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that BellRing Brands, Inc. will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

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

BellRing Brands Company 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.