Artemis Investment Management LLP Sells 14,322 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Artemis Investment Management LLP cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 749,008 shares of the company’s stock after selling 14,322 shares during the period. Artemis Investment Management LLP owned about 0.57% of BellRing Brands worth $45,480,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Handelsbanken Fonder AB raised its position in BellRing Brands by 13.1% in the third quarter. Handelsbanken Fonder AB now owns 35,480 shares of the company’s stock worth $2,154,000 after purchasing an additional 4,100 shares in the last quarter. Maven Securities LTD bought a new stake in shares of BellRing Brands in the 2nd quarter valued at approximately $286,000. New Century Financial Group LLC acquired a new position in shares of BellRing Brands in the 2nd quarter worth approximately $214,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of BellRing Brands by 74.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 76,436 shares of the company’s stock worth $4,367,000 after buying an additional 32,745 shares during the period. Finally, Truist Financial Corp boosted its stake in BellRing Brands by 54.5% in the 2nd quarter. Truist Financial Corp now owns 519,880 shares of the company’s stock valued at $29,706,000 after buying an additional 183,349 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. 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 cut their price target 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. 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 research report on Wednesday, August 7th. Finally, Stephens reiterated 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $62.64.

BellRing Brands Stock Up 0.4 %

BellRing Brands stock opened at $62.26 on Wednesday. The business’s 50-day simple moving average is $56.80 and its 200 day simple moving average is $56.71. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 1.58 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $41.19 and a 12-month high of $62.76.

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