Cubist Systematic Strategies LLC Acquires 220,615 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Cubist Systematic Strategies LLC raised its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 101.1% during the second quarter, Holdings Channel.com reports. The fund owned 438,885 shares of the company’s stock after buying an additional 220,615 shares during the period. Cubist Systematic Strategies LLC’s holdings in BellRing Brands were worth $25,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BRBR. Opal Wealth Advisors LLC bought a new stake in BellRing Brands during the second quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of BellRing Brands in the first quarter worth about $32,000. Parallel Advisors LLC boosted its stake in BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 361 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in BellRing Brands by 51.4% during the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after buying an additional 374 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

BellRing Brands Price Performance

NYSE:BRBR opened at $60.72 on Wednesday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 1.51 and a beta of 0.85. BellRing Brands, Inc. has a 1 year low of $39.90 and a 1 year high of $62.76. The business has a 50 day simple moving average of $54.68 and a 200-day simple moving average of $56.62.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $504.73 million. During the same period last year, the company earned $0.34 EPS. BellRing Brands’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts expect that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

BRBR has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Stephens reissued an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Three investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $62.64.

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.