BellRing Brands (NYSE:BRBR) Hits New 12-Month High – Here’s Why

BellRing Brands, Inc. (NYSE:BRBR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $80.06 and last traded at $79.66, with a volume of 23184 shares changing hands. The stock had previously closed at $79.17.

Analyst Ratings Changes

Several brokerages have issued reports on BRBR. Bank of America boosted their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. DA Davidson reissued a “neutral” rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, November 19th. Barclays boosted their price target on shares of BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Citigroup boosted their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Evercore ISI boosted their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.67.

BellRing Brands Stock Performance

The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 42.14, a P/E/G ratio of 2.57 and a beta of 0.86. The business’s 50-day moving average is $75.80 and its two-hundred day moving average is $65.15.

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

Institutional Trading of BellRing Brands

Several hedge funds have recently bought and sold shares of BRBR. AQR Capital Management LLC raised its holdings in BellRing Brands by 72.3% during the 2nd quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock worth $30,419,000 after buying an additional 223,430 shares during the period. Creative Planning raised its holdings in BellRing Brands by 10.3% during the 2nd quarter. Creative Planning now owns 22,121 shares of the company’s stock worth $1,264,000 after buying an additional 2,072 shares during the period. Quarry LP raised its holdings in BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares during the period. Point72 Asset Management L.P. raised its holdings in BellRing Brands by 23.3% during the 2nd 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 period. Finally, Truist Financial Corp raised its holdings in BellRing Brands by 54.5% during the 2nd quarter. Truist Financial Corp now owns 519,880 shares of the company’s stock worth $29,706,000 after buying an additional 183,349 shares during the period. 94.97% of the stock is currently 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.