JPMorgan Chase & Co. Cuts BellRing Brands (NYSE:BRBR) Price Target to $21.00
by Scott Moore · The Cerbat GemBellRing Brands (NYSE:BRBR – Free Report) had its price target lowered by JPMorgan Chase & Co. from $28.00 to $21.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.
Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 target price on shares of BellRing Brands in a report on Monday, January 26th. Stifel Nicolaus reduced their price target on shares of BellRing Brands from $50.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Mizuho lowered their price target on shares of BellRing Brands from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Zacks Research upgraded shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Barclays cut their price objective on shares of BellRing Brands from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.88.
View Our Latest Stock Report on BellRing Brands
BellRing Brands Stock Down 0.8%
Shares of NYSE BRBR opened at $16.17 on Wednesday. BellRing Brands has a twelve month low of $14.19 and a twelve month high of $79.57. The firm has a market cap of $1.90 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 5.28 and a beta of 0.73. The business has a fifty day simple moving average of $16.88 and a two-hundred day simple moving average of $24.29.
BellRing Brands (NYSE:BRBR – Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $537.30 million for the quarter, compared to the consensus estimate of $505.44 million. BellRing Brands had a negative return on equity of 64.79% and a net margin of 7.88%.The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. On average, research analysts expect that BellRing Brands will post 1.86 earnings per share for the current year.
Insider Buying and Selling
In other news, Director David Isaiah Finkelstein bought 2,000 shares of BellRing Brands stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the completion of the acquisition, the director owned 7,391 shares of the company’s stock, valued at $131,190.25. This trade represents a 37.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Institutional Trading of BellRing Brands
A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in BellRing Brands by 331.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company’s stock worth $35,733,000 after acquiring an additional 1,026,921 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of BellRing Brands by 820.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,808 shares of the company’s stock valued at $1,662,000 after purchasing an additional 42,612 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in BellRing Brands by 1,954.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company’s stock worth $7,514,000 after purchasing an additional 196,655 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in BellRing Brands during the 3rd quarter worth approximately $1,287,000. Finally, William Blair Investment Management LLC increased its stake in BellRing Brands by 17.0% during the 3rd quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock valued at $91,604,000 after purchasing an additional 366,121 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.
BellRing Brands Company Profile
BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.
The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.
BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.