BellRing Brands (NYSE:BRBR) Hits New 12-Month High After Earnings Beat

Shares of BellRing Brands, Inc. (NYSE:BRBR) reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $74.00 and last traded at $73.72, with a volume of 66432 shares. The stock had previously closed at $73.40.

The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS.

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group increased their price target on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lifted their price target on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.33.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors have recently made changes to their positions in BRBR. Holocene Advisors LP purchased a new position in shares of BellRing Brands during the 3rd quarter worth approximately $69,998,000. D. E. Shaw & Co. Inc. lifted its stake in BellRing Brands by 135.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after purchasing an additional 847,161 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after buying an additional 698,121 shares during the period. Squarepoint Ops LLC grew its stake in shares of BellRing Brands by 665.2% in the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after buying an additional 545,371 shares in the last quarter. Finally, E. Ohman J or Asset Management AB purchased a new stake in shares of BellRing Brands in the 3rd quarter valued at $30,753,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

The company has a 50 day moving average of $64.24 and a 200-day moving average of $58.85. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 42.86, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84.

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.