Connor Clark & Lunn Investment Management Ltd. Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,163 shares of the company’s stock, valued at approximately $1,346,000.

Several other institutional investors and hedge funds have also bought and sold shares of BRBR. Chartwell Investment Partners LLC raised its position in shares of BellRing Brands by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock worth $1,393,000 after acquiring an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in BellRing Brands by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock worth $540,000 after purchasing an additional 242 shares during the period. Hanseatic Management Services Inc. grew its stake in BellRing Brands by 1.8% in the second quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock worth $828,000 after purchasing an additional 263 shares during the period. Fifth Third Bancorp raised 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 worth $63,000 after purchasing an additional 374 shares in the last quarter. Finally, Quarry LP lifted its position in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of recent research reports. Barclays upped their target price on shares of BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Truist Financial raised their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Stifel Nicolaus raised their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.60.

BellRing Brands Stock Performance

BRBR opened at $78.79 on Wednesday. The company’s 50-day simple moving average is $66.39 and its two-hundred day simple moving average is $59.61. The stock has a market capitalization of $10.18 billion, a P/E ratio of 42.13, a P/E/G ratio of 2.64 and a beta of 0.84. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $79.90.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts forecast that BellRing Brands, Inc. will post 2.16 EPS 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.