Nuveen Asset Management LLC grew its stake in BellRing Brands (NYSE:BRBR) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,020 shares of the company’s stock after buying an additional 33,945 shares during the period. Nuveen Asset Management LLC owned approximately 0.48% of BellRing Brands worth $3,223,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BRBR. Route One Investment Company L.P. purchased a new position in BellRing Brands in the 4th quarter worth approximately $106,450,000. FMR LLC purchased a new stake in shares of BellRing Brands in the 4th quarter valued at $65,335,000. Goldman Sachs Group Inc. purchased a new stake in shares of BellRing Brands in the 4th quarter valued at $38,225,000. Victory Capital Management Inc. boosted its stake in shares of BellRing Brands by 150.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,474,174 shares of the company’s stock valued at $42,184,000 after purchasing an additional 1,486,367 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of BellRing Brands in the 4th quarter valued at $31,074,000. 94.71% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BRBR opened at $18.82 on Wednesday. BellRing Brands has a 12 month low of $13.56 and a 12 month high of $24.03. The firm has a fifty day simple moving average of $19.54 and a two-hundred day simple moving average of $19.71.
BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The company had revenue of $257.50 million during the quarter, compared to the consensus estimate of $232.24 million. Equities research analysts expect that BellRing Brands will post 0.59 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of BellRing Brands from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Morgan Stanley upped their price objective on shares of BellRing Brands from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 price objective on shares of BellRing Brands in a research note on Thursday, May 7th. Citigroup assumed coverage on shares of BellRing Brands in a report on Thursday, April 2nd. They set a “buy” rating and a $21.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on shares of BellRing Brands from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, May 11th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BellRing Brands currently has an average rating of “Buy” and an average price target of $22.50.
About BellRing Brands
BellRing Brands, Inc manufactures and sells nutrition products in the United States and internationally. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, and nutrition bars and supplements. It offers its products primarily under the Premier Protein, Dymatize, and PowerBar, as well as Joint Juice and Supreme Protein brands.
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