Xponance Inc. Trims Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Xponance Inc. trimmed its stake in BellRing Brands, Inc. (NYSE:BRBR) by 21.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,757 shares of the company’s stock after selling 4,135 shares during the period. Xponance Inc.’s holdings in BellRing Brands were worth $843,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRBR. Vanguard Group Inc. boosted its position in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after acquiring an additional 698,121 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of BellRing Brands by 87.2% during the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after purchasing an additional 506,895 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of BellRing Brands by 47.4% in the second quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock worth $69,885,000 after buying an additional 393,262 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in BellRing Brands by 1,006.0% during the second quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock valued at $21,290,000 after buying an additional 338,903 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in BellRing Brands during the 4th quarter valued at approximately $16,900,000. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BRBR. Deutsche Bank Aktiengesellschaft lowered their target price on 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. lowered their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stephens restated an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average target price of $62.64.

BellRing Brands Stock Up 0.4 %

BRBR stock opened at $61.11 on Friday. BellRing Brands, Inc. has a twelve month low of $39.90 and a twelve month high of $62.76. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 1.58 and a beta of 0.85. The business’s fifty day simple moving average is $55.43 and its two-hundred day simple moving average is $56.68.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. The company had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. Research analysts expect that BellRing Brands, Inc. will post 1.9 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.