BellRing Brands (NYSE:BRBR) Given New $75.00 Price Target at Truist Financial

BellRing Brands (NYSE:BRBR) had its price target upped by Truist Financial from $60.00 to $75.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

BRBR has been the topic of several other research reports. Stifel Nicolaus upped their price target on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group upped their target price on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stephens reissued an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America raised their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.27.

BellRing Brands Stock Up 2.8 %

Shares of BRBR stock opened at $78.60 on Wednesday. The stock has a 50-day simple moving average of $65.65 and a 200 day simple moving average of $59.34. The stock has a market capitalization of $10.16 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.84. BellRing Brands has a fifty-two week low of $48.06 and a fifty-two week high of $78.68.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $545.00 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts anticipate that BellRing Brands will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after buying an additional 698,121 shares in the last quarter. Wasatch Advisors LP lifted its stake in BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares during the last quarter. State Street Corp grew its position in BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after acquiring an additional 50,339 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after purchasing an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of BellRing Brands by 21.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after purchasing an additional 457,796 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.