D. E. Shaw & Co. Inc. Boosts Position in BellRing Brands, Inc. (NYSE:BRBR)

D. E. Shaw & Co. Inc. grew its position in BellRing Brands, Inc. (NYSE:BRBR) by 135.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,473,940 shares of the company’s stock after buying an additional 847,161 shares during the quarter. D. E. Shaw & Co. Inc. owned 1.13% of BellRing Brands worth $84,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BRBR. Opal Wealth Advisors LLC purchased a new position in BellRing Brands during the 2nd quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in BellRing Brands in the 1st quarter valued at approximately $32,000. Parallel Advisors LLC grew its holdings in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 361 shares during the last quarter. GAMMA Investing LLC increased its position 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 lifted its position in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR opened at $60.85 on Friday. BellRing Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $62.76. The stock’s 50-day moving average is $55.22 and its two-hundred day moving average is $56.68. The stock has a market cap of $7.86 billion, a PE ratio of 42.26, a P/E/G ratio of 1.58 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating 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 firm had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts anticipate that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on BRBR. Stephens reiterated an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.