State of Michigan Retirement System Has $1.90 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

State of Michigan Retirement System lifted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 32,145 shares of the company’s stock after buying an additional 600 shares during the period. State of Michigan Retirement System’s holdings in BellRing Brands were worth $1,898,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Hodges Capital Management Inc. acquired a new position in shares of BellRing Brands during the 1st quarter worth $7,415,000. Artemis Investment Management LLP boosted its holdings in shares of BellRing Brands by 13.7% during the 1st quarter. Artemis Investment Management LLP now owns 774,815 shares of the company’s stock worth $45,720,000 after buying an additional 93,505 shares during the period. Counterpoint Mutual Funds LLC boosted its holdings in shares of BellRing Brands by 77.6% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 9,015 shares of the company’s stock worth $532,000 after buying an additional 3,939 shares during the period. Sarasin & Partners LLP boosted its holdings in shares of BellRing Brands by 133.3% during the 1st quarter. Sarasin & Partners LLP now owns 70,000 shares of the company’s stock worth $4,132,000 after buying an additional 40,000 shares during the period. Finally, FCF Advisors LLC boosted its holdings in shares of BellRing Brands by 15.7% during the 1st quarter. FCF Advisors LLC now owns 19,089 shares of the company’s stock worth $1,127,000 after buying an additional 2,588 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. TD Cowen upped their price objective on shares of BellRing Brands from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Barclays upped their price objective on shares of BellRing Brands from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Stephens reissued an “equal weight” rating and issued a $53.00 price target on shares of BellRing Brands in a report on Tuesday, May 7th. Finally, Evercore ISI increased their price target on shares of BellRing Brands from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.23.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $59.10 on Friday. BellRing Brands, Inc. has a 52-week low of $34.58 and a 52-week high of $62.76. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 1.66 and a beta of 0.84. The firm has a fifty day moving average of $57.80 and a 200-day moving average of $57.04.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a net margin of 10.39% and a negative return on equity of 70.95%. The company had revenue of $494.60 million during the quarter, compared to analysts’ expectations of $467.22 million. During the same quarter in the prior year, the company posted $0.24 EPS. The business’s revenue was up 28.3% on a year-over-year basis. On average, sell-side analysts predict that BellRing Brands, Inc. will post 1.8 earnings per share for the current year.

Insider Activity

In other news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $60.15, for a total value of $902,250.00. Following the completion of the transaction, the chairman now owns 215,054 shares in the company, valued at approximately $12,935,498.10. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.80% of the company’s stock.

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.