BellRing Brands Inc. (NYSE:BRBR) Receives $61.56 Consensus Price Target from Analysts

Shares of BellRing Brands Inc. (NYSE:BRBR) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.5625.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of BellRing Brands in a report on Wednesday, October 8th. Barclays reduced their target price on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group increased their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Evercore ISI reduced their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th.

BellRing Brands Stock Down 3.6%

BellRing Brands stock opened at $31.87 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.61 and a beta of 0.75. BellRing Brands has a 52-week low of $31.05 and a 52-week high of $80.67. The company’s 50 day moving average is $36.80 and its two-hundred day moving average is $52.18.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $282.40 million for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. On average, equities research analysts anticipate that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Shawn Conway acquired 1,316 shares of BellRing Brands stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the acquisition, the director owned 8,001 shares of the company’s stock, valued at $400,049,919.99. This trade represents a 19.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the sale, the chief executive officer owned 193,978 shares in the company, valued at $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 6,616 shares of company stock worth $65,995,248. 1.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRBR. William Blair Investment Management LLC purchased a new position in shares of BellRing Brands in the 2nd quarter valued at $124,777,000. Axiom Investors LLC DE grew its position in shares of BellRing Brands by 418.1% in the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after buying an additional 1,814,811 shares during the last quarter. Holocene Advisors LP grew its position in shares of BellRing Brands by 50.7% in the 2nd quarter. Holocene Advisors LP now owns 3,928,395 shares of the company’s stock valued at $227,572,000 after buying an additional 1,320,849 shares during the last quarter. Junto Capital Management LP purchased a new position in shares of BellRing Brands in the 1st quarter valued at $97,725,000. Finally, Norges Bank purchased a new position in shares of BellRing Brands in the 2nd quarter valued at $66,057,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.