AQR Capital Management LLC Buys 223,430 Shares of BellRing Brands, Inc. (NYSE:BRBR)

AQR Capital Management LLC boosted its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 72.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,359 shares of the company’s stock after purchasing an additional 223,430 shares during the period. AQR Capital Management LLC owned about 0.41% of BellRing Brands worth $30,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BRBR. Vanguard Group Inc. grew its position in BellRing Brands by 5.3% in 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 in the last quarter. Squarepoint Ops LLC grew its position in BellRing Brands by 665.2% in the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after purchasing an additional 545,371 shares in the last quarter. Principal Financial Group Inc. grew its position in BellRing Brands by 87.2% in the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after purchasing an additional 506,895 shares in the last quarter. Point72 Asset Management L.P. grew its position in BellRing Brands by 23.3% in the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after purchasing an additional 402,666 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in BellRing Brands by 47.4% in the second quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock valued at $69,885,000 after purchasing an additional 393,262 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BRBR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target 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. Stephens reiterated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note 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 research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.64.

BellRing Brands Stock Performance

NYSE BRBR opened at $61.11 on Monday. The firm has a 50-day moving average of $55.43 and a 200-day moving average of $56.66. The stock has a market cap of $7.97 billion, a PE ratio of 42.44, a P/E/G ratio of 1.58 and a beta of 0.85. BellRing Brands, Inc. has a 52-week low of $39.90 and a 52-week high of $62.76.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $504.73 million. During the same period last year, the firm earned $0.34 earnings per share. BellRing Brands’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, analysts predict that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal 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.