Sumitomo Mitsui Trust Group Inc. Increases Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 20.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,683 shares of the company’s stock after buying an additional 800 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BellRing Brands were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BRBR. D. E. Shaw & Co. Inc. lifted its holdings in BellRing Brands by 135.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after buying an additional 847,161 shares during the period. Vanguard Group Inc. lifted its holdings in BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after buying an additional 698,121 shares during the period. Squarepoint Ops LLC lifted its holdings in BellRing Brands by 665.2% during the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after buying an additional 545,371 shares during the period. E. Ohman J or Asset Management AB acquired a new position in shares of BellRing Brands during the third quarter worth $30,753,000. Finally, Point72 Asset Management L.P. increased its position in shares of BellRing Brands by 23.3% during the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after purchasing an additional 402,666 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRBR. Citigroup upped their price target on BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their price target on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Stifel Nicolaus upped their price target on BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist Financial upped their price target on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.93.

BellRing Brands Stock Performance

Shares of BRBR opened at $74.38 on Thursday. The business’s 50-day moving average is $64.89 and its two-hundred day moving average is $59.07. The company has a market capitalization of $9.61 billion, a P/E ratio of 44.54, a P/E/G ratio of 1.61 and a beta of 0.84. BellRing Brands, Inc. has a fifty-two week low of $46.03 and a fifty-two week high of $75.44.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Analysts forecast that BellRing Brands, Inc. will post 1.92 EPS for the current year.

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.