Sanctuary Advisors LLC Acquires New Position in BellRing Brands, Inc. (NYSE:BRBR)

Sanctuary Advisors LLC acquired a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,228 shares of the company’s stock, valued at approximately $439,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Holocene Advisors LP purchased a new stake in BellRing Brands in the third quarter worth about $69,998,000. D. E. Shaw & Co. Inc. raised its holdings in shares of BellRing Brands by 135.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after purchasing an additional 847,161 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of BellRing Brands by 665.2% in the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after purchasing an additional 545,371 shares during the period. E. Ohman J or Asset Management AB purchased a new position in BellRing Brands during the third quarter valued at approximately $30,753,000. Finally, Champlain Investment Partners LLC purchased a new position in BellRing Brands during the third quarter valued at approximately $30,699,000. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $76.78 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90. The firm has a market capitalization of $9.89 billion, a PE ratio of 41.06, a P/E/G ratio of 2.59 and a beta of 0.86. The stock’s 50-day simple moving average is $73.12 and its 200-day simple moving average is $62.42.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. During the same quarter in the prior year, the company earned $0.41 EPS. BellRing Brands’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial increased their target price on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup increased their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America raised their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, DA Davidson reissued a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.60.

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.