Envestnet Asset Management Inc. Boosts Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Envestnet Asset Management Inc. grew its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 33.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,732 shares of the company’s stock after buying an additional 51,498 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of BellRing Brands worth $11,641,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BRBR. Opal Wealth Advisors LLC bought a new position in BellRing Brands during the 2nd quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of BellRing Brands during the first quarter worth about $32,000. Parallel Advisors LLC grew its stake in 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 purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp raised 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 in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BRBR shares. JPMorgan Chase & Co. lowered their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.64.

BellRing Brands Stock Performance

Shares of BRBR opened at $60.39 on Thursday. BellRing Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $62.76. The company has a market capitalization of $7.80 billion, a PE ratio of 41.82, a PEG ratio of 1.58 and a beta of 0.85. The company’s 50 day moving average price is $54.86 and its 200 day moving average price is $56.63.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. The company had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. BellRing Brands’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. On average, equities analysts forecast that BellRing Brands, Inc. will post 1.9 earnings per share 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.