BellRing Brands, Inc. (NYSE:BRBR) Short Interest Down 13.1% in November

BellRing Brands, Inc. (NYSE:BRBR) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,460,000 shares, a drop of 13.1% from the October 31st total of 1,680,000 shares. Based on an average daily trading volume, of 928,100 shares, the days-to-cover ratio is currently 1.6 days.

BellRing Brands Price Performance

Shares of BRBR stock traded down $0.73 during mid-day trading on Tuesday, hitting $76.90. The stock had a trading volume of 1,126,178 shares, compared to its average volume of 1,064,041. The firm has a market capitalization of $9.90 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.86. BellRing Brands has a 12-month low of $48.06 and a 12-month high of $79.90. The firm’s 50-day moving average is $68.12 and its two-hundred day moving average is $60.27.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The firm had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. Analysts expect that BellRing Brands will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barclays increased their price target on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Stephens upped their target price on shares of BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Mizuho boosted their target price on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Bank of America increased their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.60.

Hedge Funds Weigh In On BellRing Brands

Institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP increased its position in shares of BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after acquiring an additional 380,216 shares during the last quarter. State Street Corp grew its position in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after purchasing an additional 50,339 shares during the period. Wellington Management Group LLP increased its holdings in shares of BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after buying an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after acquiring an additional 457,796 shares during the period. 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.