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

BellRing Brands (NYSE:BRBR) had its target price cut by stock analysts at Truist Financial from $75.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 6.24% from the company’s current price.

Several other research analysts have also recently issued reports on BRBR. Citigroup dropped their target price on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Stephens reiterated an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. UBS Group reduced their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI cut their price target on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

BellRing Brands Price Performance

Shares of BRBR stock opened at $61.18 on Thursday. The company’s 50-day simple moving average is $72.00 and its two-hundred day simple moving average is $73.46. BellRing Brands has a one year low of $48.06 and a one year high of $80.67. The company has a market capitalization of $7.85 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $577.56 million. During the same period last year, the business posted $0.45 EPS. BellRing Brands’s quarterly revenue was up 18.9% on a year-over-year basis. On average, research analysts expect that BellRing Brands will post 2.23 EPS for the current fiscal year.

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

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert V. Vitale sold 79,068 shares of BellRing Brands stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $77.04, for a total value of $6,091,398.72. Following the sale, the director now directly owns 982,706 shares of the company’s stock, valued at $75,707,670.24. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,828 shares of company stock worth $16,917,365. Company insiders own 1.07% of the company’s stock.

Institutional Trading of BellRing Brands

Several institutional investors and hedge funds have recently bought and sold shares of BRBR. AQR Capital Management LLC raised its holdings in shares of BellRing Brands by 284.2% during the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock worth $171,663,000 after purchasing an additional 1,685,525 shares during the last quarter. Norges Bank acquired a new stake in BellRing Brands during the 4th quarter worth about $114,185,000. Invesco Ltd. raised its stake in shares of 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 buying an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after buying an additional 898,885 shares during the period. Finally, Assenagon Asset Management S.A. boosted 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 buying an additional 768,595 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.