Point72 Asset Management L.P. Increases Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Point72 Asset Management L.P. grew its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 23.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,131,174 shares of the company’s stock after purchasing an additional 402,666 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.63% of BellRing Brands worth $121,775,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of BellRing Brands by 52.3% during the fourth quarter. UBS Group AG now owns 183,941 shares of the company’s stock worth $10,196,000 after buying an additional 63,176 shares during the period. Wells Fargo & Company MN lifted its position in BellRing Brands by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 396,148 shares of the company’s stock worth $21,958,000 after acquiring an additional 48,615 shares during the period. Advisory Services Network LLC purchased a new position in shares of BellRing Brands in the 4th quarter valued at approximately $253,000. Parallel Advisors LLC increased its holdings in shares of BellRing Brands by 153.6% in the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after purchasing an additional 361 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of BellRing Brands by 4.8% in the fourth quarter. Stifel Financial Corp now owns 171,045 shares of the company’s stock valued at $9,481,000 after purchasing an additional 7,877 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

BellRing Brands stock opened at $60.72 on Wednesday. The stock has a market capitalization of $7.92 billion, a P/E ratio of 42.17, a P/E/G ratio of 1.51 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $62.76. The firm’s 50-day moving average is $54.68 and its two-hundred day moving average is $56.62.

BellRing Brands (NYSE:BRBR) last issued its quarterly 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 negative return on equity of 88.30% and a net margin of 11.55%. The company had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. During the same period in the previous year, the firm posted $0.34 EPS. BellRing Brands’s revenue was up 15.6% on a year-over-year basis. As a group, analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BRBR shares. Stephens reaffirmed an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. reduced 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.64.

BellRing Brands Company 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.