3,752 Shares in BellRing Brands, Inc. (NYSE:BRBR) Acquired by New Century Financial Group LLC

New Century Financial Group LLC purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,752 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently modified their holdings of BRBR. Opal Wealth Advisors LLC bought a new position in shares of BellRing Brands in the 2nd quarter valued at $28,000. Rise Advisors LLC bought a new stake in shares of BellRing Brands during the first quarter worth about $32,000. Parallel Advisors LLC increased its stake 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 buying an additional 361 shares during the period. Quarry LP raised its holdings in BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after buying an additional 615 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BRBR stock opened at $60.40 on Thursday. BellRing Brands, Inc. has a fifty-two week low of $40.57 and a fifty-two week high of $62.76. The stock’s 50 day simple moving average is $56.09 and its 200 day simple moving average is $56.70. The company has a market cap of $7.88 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.10. The firm had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.