Wasatch Advisors LP Purchases 494,669 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Wasatch Advisors LP grew its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,701,299 shares of the company’s stock after buying an additional 494,669 shares during the quarter. BellRing Brands makes up about 2.0% of Wasatch Advisors LP’s investment portfolio, making the stock its 9th largest holding. Wasatch Advisors LP owned approximately 0.05% of BellRing Brands worth $406,903,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in BellRing Brands by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after purchasing an additional 86,992 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of BellRing Brands by 23.3% in the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after buying an additional 402,666 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of BellRing Brands by 4.6% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,064,167 shares of the company’s stock worth $117,947,000 after acquiring an additional 91,149 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after acquiring an additional 847,161 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of BellRing Brands by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after acquiring an additional 333,287 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BRBR. DA Davidson restated a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Stephens upped their price target on shares of BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $75.60.

BellRing Brands Stock Performance

NYSE BRBR opened at $78.46 on Friday. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $79.90. The stock has a market cap of $10.10 billion, a PE ratio of 41.96, a PEG ratio of 2.59 and a beta of 0.84. The firm has a 50-day simple moving average of $67.46 and a 200 day simple moving average of $59.98.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Research analysts forecast that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal 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.