BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 72.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,300 shares of the company’s stock after selling 151,700 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in BellRing Brands were worth $3,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in BellRing Brands by 5.3% in the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after acquiring an additional 698,121 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of BellRing Brands by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after purchasing an additional 86,992 shares during the last quarter. Point72 Asset Management L.P. boosted its position in BellRing Brands by 23.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after purchasing an additional 402,666 shares during the period. D. E. Shaw & Co. Inc. boosted its position in BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after purchasing an additional 847,161 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of BellRing Brands by 47.4% during the second quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock worth $69,885,000 after acquiring an additional 393,262 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

NYSE BRBR opened at $61.11 on Friday. The company has a market capitalization of $7.97 billion, a P/E ratio of 42.44, a PEG ratio of 1.58 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $62.76. The company’s 50 day simple moving average is $55.43 and its 200 day simple moving average is $56.70.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRBR. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note 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 research note on Tuesday, August 6th. Finally, Stephens reissued an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Three research 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.com, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $62.64.

BellRing Brands 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.