Daiwa Securities Group Inc. Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Daiwa Securities Group Inc. purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) in the second quarter, HoldingsChannel reports. The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in BellRing Brands in the 2nd quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in shares of BellRing Brands in the first quarter worth $32,000. Parallel Advisors LLC raised its holdings in shares of BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC lifted its position in BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after purchasing an additional 615 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in 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 purchasing an additional 374 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Trading Up 0.7 %

BRBR stock opened at $59.57 on Wednesday. BellRing Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $62.76. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.51 and a beta of 0.85. The business’s 50-day moving average is $54.21 and its 200 day moving average is $56.63.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share (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 company had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. During the same quarter in the prior year, the company earned $0.34 EPS. BellRing Brands’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

Analyst Ratings Changes

BRBR has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Stephens restated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and an average target price of $62.64.

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.