Wealth Enhancement Advisory Services LLC Buys New Position in BellRing Brands, Inc. (NYSE:BRBR)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,761 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in BellRing Brands during the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in BellRing Brands during the third quarter worth about $31,000. Quarry LP increased its holdings in shares of BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BellRing Brands by 165.3% in the second 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 boosted its holdings in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $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 Stock Up 1.0 %

Shares of BellRing Brands stock opened at $71.37 on Tuesday. The business has a fifty day simple moving average of $62.35 and a 200 day simple moving average of $58.16. The stock has a market cap of $9.22 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. BellRing Brands, Inc. has a 12 month low of $44.37 and a 12 month high of $71.52.

Analysts Set New Price Targets

A number of research firms recently weighed in on BRBR. Barclays raised their price target on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Truist Financial raised their price objective on shares of BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.14.

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.