Gabelli Funds LLC Acquires 42,000 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Gabelli Funds LLC boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 518,856 shares of the company’s stock after acquiring an additional 42,000 shares during the quarter. Gabelli Funds LLC owned 0.40% of BellRing Brands worth $29,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRBR. Ensign Peak Advisors Inc lifted its holdings in shares of BellRing Brands by 9.7% during the second quarter. Ensign Peak Advisors Inc now owns 87,779 shares of the company’s stock worth $5,016,000 after purchasing an additional 7,733 shares during the period. Nkcfo LLC bought a new position in BellRing Brands during the 2nd quarter worth $571,000. Sei Investments Co. lifted its holdings in BellRing Brands by 17.3% during the 2nd quarter. Sei Investments Co. now owns 335,099 shares of the company’s stock worth $19,148,000 after buying an additional 49,442 shares during the period. Pacer Advisors Inc. grew its position in shares of BellRing Brands by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 29,435 shares of the company’s stock valued at $1,682,000 after buying an additional 2,259 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of BellRing Brands by 1.8% in the 2nd quarter. King Luther Capital Management Corp now owns 143,606 shares of the company’s stock valued at $8,206,000 after buying an additional 2,502 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped 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 report on Thursday, July 25th. Stephens reiterated an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.64.

BellRing Brands Stock Performance

BRBR stock opened at $60.47 on Friday. The stock’s 50 day simple moving average is $54.49 and its 200 day simple moving average is $56.65. The company has a market cap of $7.89 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. BellRing Brands, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $62.76.

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

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.