BellRing Brands, Inc. (NYSE:BRBR) Stock Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in BellRing Brands, Inc. (NYSE:BRBR) by 19.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,103 shares of the company’s stock after buying an additional 2,097 shares during the period. Exchange Traded Concepts LLC’s holdings in BellRing Brands were worth $796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of BellRing Brands in the 2nd quarter worth $28,000. Rise Advisors LLC bought a new stake in shares of BellRing Brands in the 1st quarter worth $32,000. Quarry LP grew its holdings in shares of BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after acquiring an additional 378 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of BellRing Brands by 165.3% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after acquiring an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after acquiring an additional 374 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $65.61 on Friday. The business’s 50-day moving average price is $58.74 and its two-hundred day moving average price is $56.98. BellRing Brands, Inc. has a one year low of $42.54 and a one year high of $67.12. The company has a market capitalization of $8.56 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities analysts anticipate that BellRing Brands, Inc. will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BRBR. JPMorgan Chase & Co. decreased their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Stephens restated an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Truist Financial lifted their target price on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Barclays lifted their price target on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.36.

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.