Truist Financial Issues Pessimistic Forecast for BellRing Brands (NYSE:BRBR) Stock Price

BellRing Brands (NYSE:BRBR) had its price target cut by Truist Financial from $75.00 to $65.00 in a research report released on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research analysts have also recently commented on the stock. Evercore ISI lowered their target price on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 target price on the stock. Mizuho boosted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup cut their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.00.

BellRing Brands Trading Down 1.1 %

NYSE:BRBR opened at $61.18 on Thursday. The stock has a 50 day simple moving average of $72.00 and a 200 day simple moving average of $73.52. The stock has a market cap of $7.85 billion, a P/E ratio of 28.72, a PEG ratio of 2.24 and a beta of 0.86. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The company had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands announced that its board has authorized a stock buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock valued at $16,917,365 over the last quarter. 1.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On BellRing Brands

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after buying an additional 1,685,525 shares in the last quarter. Norges Bank bought a new position in BellRing Brands in the 4th quarter valued at about $114,185,000. Invesco Ltd. boosted its stake in BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP increased its holdings in BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after purchasing an additional 898,885 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of BellRing Brands by 77.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company’s stock worth $131,137,000 after purchasing an additional 768,595 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.