Assenagon Asset Management S.A. Sells 41,779 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Assenagon Asset Management S.A. trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,811 shares of the company’s stock after selling 41,779 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of BellRing Brands worth $20,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of BellRing Brands in the second quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of BellRing Brands in the third quarter valued at approximately $31,000. Quarry LP boosted its position in shares of BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after acquiring an additional 378 shares during the period. GAMMA Investing LLC boosted its position in shares of BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after acquiring an additional 615 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares during the period. 94.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BRBR. Evercore ISI raised their target price on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their target price on BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. 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. Stephens reaffirmed an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.71.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $64.47 on Friday. BellRing Brands, Inc. has a twelve month low of $42.71 and a twelve month high of $67.12. The firm has a market cap of $8.41 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. The business has a fifty day moving average of $59.85 and a 200-day moving average of $57.24.

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

About BellRing Brands

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.