Tidal Investments LLC Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Tidal Investments LLC trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 29.3% in the third quarter, Holdings Channel reports. The institutional investor owned 4,303 shares of the company’s stock after selling 1,780 shares during the quarter. Tidal Investments LLC’s holdings in BellRing Brands were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of BellRing Brands in the third quarter worth $31,000. Farther Finance Advisors LLC lifted its holdings in BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new position in BellRing Brands in the 3rd quarter worth about $44,000. Quarry LP grew its holdings in BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of 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 period. Institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Jefferies Financial Group upped their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. DA Davidson reissued a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, November 19th. Stephens upped their target price on BellRing Brands from $61.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price target on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.60.

BellRing Brands Price Performance

Shares of BRBR stock opened at $76.66 on Wednesday. The business has a 50-day moving average of $72.45 and a 200 day moving average of $62.09. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $79.90. The stock has a market capitalization of $9.87 billion, a PE ratio of 40.99, a P/E/G ratio of 2.59 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released 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 negative return on equity of 103.89% and a net margin of 12.35%. The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current year.

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.