State of New Jersey Common Pension Fund D Has $2.86 Million Stake in BellRing Brands, Inc. (NYSE:BRBR)

State of New Jersey Common Pension Fund D decreased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,997 shares of the company’s stock after selling 28,189 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BellRing Brands were worth $2,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRBR. Opal Wealth Advisors LLC acquired a new position in BellRing Brands during the second quarter valued at approximately $28,000. Rise Advisors LLC acquired a new stake in BellRing Brands in the first quarter valued at $32,000. Parallel Advisors LLC grew 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 valued at $33,000 after acquiring an additional 361 shares during the period. GAMMA Investing LLC increased its stake in shares of BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after purchasing an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp raised 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 valued at $63,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.4 %

Shares of BRBR stock opened at $59.33 on Thursday. The firm has a market capitalization of $7.74 billion, a P/E ratio of 41.20, a P/E/G ratio of 1.51 and a beta of 0.85. The stock’s fifty day simple moving average is $54.29 and its 200 day simple moving average is $56.65. BellRing Brands, Inc. has a twelve month low of $39.90 and a twelve month high of $62.76.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data 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 business had revenue of $515.40 million during 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%. During the same period in the prior year, the business posted $0.34 earnings per share. BellRing Brands’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts expect that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on BRBR. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Stephens restated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.64.

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.