Lecap Asset Management Ltd. Invests $1.50 Million in BellRing Brands, Inc. (NYSE:BRBR)

Lecap Asset Management Ltd. acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,727 shares of the company’s stock, valued at approximately $1,501,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRBR. V Square Quantitative Management LLC bought a new position in BellRing Brands during the 3rd quarter worth $31,000. nVerses Capital LLC bought a new position in shares of BellRing Brands during the third quarter worth about $419,000. Exchange Traded Concepts LLC increased its holdings in shares of BellRing Brands by 19.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,103 shares of the company’s stock worth $796,000 after acquiring an additional 2,097 shares during the period. Carnegie Investment Counsel lifted its position in BellRing Brands by 17.8% in the 3rd quarter. Carnegie Investment Counsel now owns 55,667 shares of the company’s stock valued at $3,380,000 after purchasing an additional 8,423 shares during the last quarter. Finally, CWM LLC boosted its stake in BellRing Brands by 264.3% during the 3rd quarter. CWM LLC now owns 3,927 shares of the company’s stock valued at $238,000 after purchasing an additional 2,849 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Bank of America increased their price target on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays upped their price target on shares of BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.36.

BellRing Brands Trading Down 0.3 %

NYSE BRBR opened at $65.31 on Thursday. BellRing Brands, Inc. has a 1 year low of $42.71 and a 1 year high of $67.12. The company has a market cap of $8.52 billion, a PE ratio of 45.35, a PEG ratio of 1.48 and a beta of 0.85. The stock’s 50-day moving average price is $59.65 and its two-hundred day moving average price is $57.18.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $504.73 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

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.