Massachusetts Financial Services Co. MA purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 17,500 shares of the company’s stock, valued at approximately $1,000,000.
Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of BellRing Brands during the second quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in BellRing Brands during the 1st quarter valued at approximately $32,000. Parallel Advisors LLC increased its position in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 361 shares in the last quarter. GAMMA Investing LLC raised its stake in BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after buying an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after acquiring an additional 374 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.
BellRing Brands Price Performance
BRBR stock opened at $60.47 on Monday. BellRing Brands, Inc. has a 1 year low of $39.90 and a 1 year high of $62.76. 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. The stock’s fifty day moving average price is $54.49 and its 200-day moving average price is $56.62.
Analyst Upgrades and Downgrades
BRBR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Stephens reissued an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $62.64.
Check Out Our Latest Report on BRBR
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.
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