JPMorgan Chase & Co. Sells 104,663 Shares of BellRing Brands, Inc. (NYSE:BRBR)

JPMorgan Chase & Co. lessened its stake in BellRing Brands, Inc. (NYSE:BRBR) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 552,944 shares of the company’s stock after selling 104,663 shares during the quarter. JPMorgan Chase & Co. owned about 0.43% of BellRing Brands worth $33,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRBR. V Square Quantitative Management LLC acquired a new stake in BellRing Brands in the third quarter worth $31,000. Farther Finance Advisors LLC grew its holdings in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares during the period. Truvestments Capital LLC bought a new stake in shares of BellRing Brands in the 3rd quarter valued at $44,000. Quarry LP raised its stake in BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares during the period. Finally, Assetmark Inc. lifted its holdings in BellRing Brands by 53.9% during the third quarter. Assetmark Inc. now owns 1,947 shares of the company’s stock worth $118,000 after acquiring an additional 682 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their target price on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Bank of America lifted their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Stephens increased their price objective on shares of BellRing Brands from $61.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Finally, DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $75.60.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $72.89 on Tuesday. The stock has a 50 day moving average price of $74.48 and a 200 day moving average price of $63.44. The stock has a market capitalization of $9.39 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.59 and a beta of 0.86. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts forecast that BellRing Brands, Inc. will post 2.16 EPS for the current year.

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.