BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 77.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,845 shares of the company’s stock after selling 6,260 shares during the quarter. Acadian Asset Management LLC’s holdings in BellRing Brands were worth $105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Hanseatic Management Services Inc. increased its stake in BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock worth $828,000 after buying an additional 263 shares during the period. Bessemer Group Inc. increased its position in shares of BellRing Brands by 3.8% during the first quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after acquiring an additional 276 shares during the last quarter. Parallel Advisors LLC lifted 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 worth $33,000 after acquiring an additional 361 shares in the last quarter. 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. Finally, Opal Wealth Advisors LLC acquired a new stake in BellRing Brands during the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.7 %

Shares of NYSE BRBR opened at $60.47 on Friday. BellRing Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $62.76. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The stock’s 50 day simple moving average is $54.49 and its 200 day simple moving average is $56.65.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. As a group, equities analysts forecast that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BRBR has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price 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, Stephens reaffirmed an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target 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.