Ashton Thomas Private Wealth LLC Invests $188,000 in BellRing Brands, Inc. (NYSE:BRBR)

Ashton Thomas Private Wealth LLC bought a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,292 shares of the company’s stock, valued at approximately $188,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in BellRing Brands in the 4th quarter worth $91,936,000. Franklin Resources Inc. raised its position in BellRing Brands by 60.3% in the 4th quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after buying an additional 1,379,138 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after purchasing an additional 698,121 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of BellRing Brands by 87.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after buying an additional 506,895 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in BellRing Brands by 1,006.0% in the second quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock valued at $21,290,000 after acquiring an additional 338,903 shares during the period. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

BellRing Brands Stock Performance

NYSE BRBR opened at $58.68 on Friday. The company has a market cap of $7.65 billion, a P/E ratio of 40.75, a P/E/G ratio of 1.48 and a beta of 0.85. The business’s 50 day moving average price is $54.16 and its 200-day moving average price is $56.60. 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 announced its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities analysts predict that BellRing Brands, Inc. will post 1.88 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.