New York State Teachers Retirement System Lowers Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

New York State Teachers Retirement System cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 151,733 shares of the company’s stock after selling 1,225 shares during the quarter. New York State Teachers Retirement System’s holdings in BellRing Brands were worth $9,213,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in BellRing Brands during the third quarter worth $31,000. Quarry LP boosted its holdings in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares in the last quarter. GAMMA Investing LLC boosted its holdings in BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after buying an additional 615 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in BellRing Brands by 51.4% during the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after buying an additional 374 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

Shares of BRBR stock opened at $66.69 on Monday. The firm’s 50-day moving average is $61.10 and its two-hundred day moving average is $57.68. BellRing Brands, Inc. has a 12 month low of $44.22 and a 12 month high of $67.53. The company has a market capitalization of $8.62 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $504.73 million. During the same period in the previous year, the firm earned $0.34 earnings per share. BellRing Brands’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BRBR. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Truist Financial lifted their target price on shares of BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. dropped their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Stephens reiterated an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.71.

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.