Morgan Stanley Cuts BellRing Brands (NYSE:BRBR) Price Target to $43.00

BellRing Brands (NYSE:BRBR) had its price objective trimmed by Morgan Stanley from $58.00 to $43.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays cut 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. Stephens raised BellRing Brands from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $68.00 to $50.00 in a report on Wednesday, August 6th. Stifel Nicolaus dropped their price target on BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Jefferies Financial Group boosted their price objective on BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Sanford C. Bernstein began coverage on BellRing Brands in a research note on Thursday, October 23rd. They set an “outperform” rating and a $46.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.56.

BellRing Brands Price Performance

BellRing Brands stock opened at $26.95 on Tuesday. BellRing Brands has a 12 month low of $26.83 and a 12 month high of $80.67. The company has a fifty day moving average price of $33.86 and a two-hundred day moving average price of $48.25. The company has a market cap of $3.40 billion, a PE ratio of 15.40, a P/E/G ratio of 1.61 and a beta of 0.70.

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

BellRing Brands declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 2nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors have recently bought and sold shares of the stock. Maseco LLP acquired a new position in BellRing Brands during the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC lifted its stake in shares of BellRing Brands by 132.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after acquiring an additional 419 shares during the period. TCTC Holdings LLC boosted its holdings in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of BellRing Brands during the third quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.