Janney Montgomery Scott LLC Buys New Shares in BellRing Brands, Inc. (NYSE:BRBR)

Janney Montgomery Scott LLC purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 14,123 shares of the company’s stock, valued at approximately $1,064,000.

Several other hedge funds have also recently made changes to their positions in the business. Chartwell Investment Partners LLC grew its stake in BellRing Brands by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock worth $1,393,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. increased its stake in shares of BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of BellRing Brands by 6.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,669 shares of the company’s stock valued at $352,000 after acquiring an additional 266 shares during the period. Crossmark Global Holdings Inc. boosted its stake in BellRing Brands by 5.2% during the third quarter. Crossmark Global Holdings Inc. now owns 8,746 shares of the company’s stock worth $531,000 after acquiring an additional 429 shares in the last quarter. Finally, KBC Group NV grew its holdings in BellRing Brands by 14.1% in the third quarter. KBC Group NV now owns 3,583 shares of the company’s stock worth $218,000 after purchasing an additional 443 shares during the period. 94.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho upped their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Bank of America increased their price target on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus boosted their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Jefferies Financial Group increased their target price on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Truist Financial boosted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average target price of $77.53.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $76.53 on Thursday. The firm has a market cap of $9.86 billion, a PE ratio of 40.92, a P/E/G ratio of 2.61 and a beta of 0.86. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The stock has a fifty day moving average price of $75.96 and a 200-day moving average price of $66.23.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. As a group, equities analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal 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.