Freemont Management S.A. Sells 76,200 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Freemont Management S.A. decreased its position in BellRing Brands, Inc. (NYSE:BRBR) by 83.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,400 shares of the company’s stock after selling 76,200 shares during the quarter. Freemont Management S.A.’s holdings in BellRing Brands were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BRBR. Vanguard Group Inc. raised its stake in BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after acquiring an additional 698,121 shares during the period. Franklin Resources Inc. lifted its holdings in shares of BellRing Brands by 60.3% during the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after buying an additional 1,379,138 shares in the last quarter. Dimensional Fund Advisors LP increased its position in BellRing Brands by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,794,535 shares of the company’s stock worth $154,903,000 after acquiring an additional 9,170 shares during the period. Norges Bank bought a new position in shares of BellRing Brands during the fourth quarter worth approximately $91,936,000. Finally, Principal Financial Group Inc. raised its position in shares of BellRing Brands by 10.6% in the second quarter. Principal Financial Group Inc. now owns 1,203,488 shares of the company’s stock valued at $68,767,000 after buying an additional 115,151 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.7 %

Shares of NYSE:BRBR traded up $0.98 during midday trading on Monday, reaching $57.38. 16,867 shares of the company were exchanged, compared to its average volume of 1,298,151. The business’s fifty day moving average is $54.24 and its two-hundred day moving average is $56.54. BellRing Brands, Inc. has a one year low of $39.90 and a one year high of $62.76. The stock has a market cap of $7.42 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stephens reissued an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.64.

BellRing Brands 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.