Readystate Asset Management LP Grows Position in BellRing Brands, Inc. (NYSE:BRBR)

Readystate Asset Management LP increased its position in BellRing Brands, Inc. (NYSE:BRBR) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 26,858 shares of the company’s stock after purchasing an additional 2,358 shares during the quarter. Readystate Asset Management LP’s holdings in BellRing Brands were worth $1,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in BellRing Brands by 328.4% during the 1st quarter. BlackRock Inc. now owns 12,967,658 shares of the company’s stock valued at $299,293,000 after buying an additional 9,940,436 shares in the last quarter. Vanguard Group Inc. increased its position in BellRing Brands by 183.4% during the 1st quarter. Vanguard Group Inc. now owns 10,814,461 shares of the company’s stock valued at $249,598,000 after buying an additional 6,997,877 shares in the last quarter. State Street Corp increased its position in BellRing Brands by 332.1% during the 1st quarter. State Street Corp now owns 3,676,863 shares of the company’s stock valued at $84,862,000 after buying an additional 2,826,014 shares in the last quarter. Dimensional Fund Advisors LP increased its position in BellRing Brands by 1,640.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,725,639 shares of the company’s stock valued at $62,909,000 after buying an additional 2,569,055 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in BellRing Brands by 11,443.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,384,380 shares of the company’s stock valued at $55,031,000 after buying an additional 2,363,724 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the transaction, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on BRBR shares. Morgan Stanley lifted their target price on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Truist Financial lowered BellRing Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $50.00 in a report on Wednesday, January 3rd. Needham & Company LLC lifted their target price on BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Stifel Nicolaus lifted their target price on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Stephens reissued an “equal weight” rating and issued a $51.00 target price on shares of BellRing Brands in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.08.

BellRing Brands Price Performance

Shares of BRBR traded down $0.09 during trading hours on Thursday, hitting $54.23. The stock had a trading volume of 1,183,971 shares, compared to its average volume of 1,231,908. The firm has a market capitalization of $7.10 billion, a PE ratio of 43.73, a PEG ratio of 2.10 and a beta of 0.83. The stock has a fifty day moving average price of $58.04 and a 200 day moving average price of $53.01. BellRing Brands, Inc. has a 12 month low of $34.58 and a 12 month high of $62.76.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $430.40 million for the quarter, compared to the consensus estimate of $407.91 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. As a group, analysts anticipate that BellRing Brands, Inc. will post 1.67 EPS for the current fiscal year.

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.