BellRing Brands (NYSE:BRBR) Raised to “Hold” at Zacks Research

BellRing Brands (NYSE:BRBR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft set a $62.00 price target on shares of BellRing Brands in a research note on Monday, December 15th. Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of BellRing Brands in a report on Wednesday, November 19th. JPMorgan Chase & Co. lowered their price target on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Mizuho reduced their price objective on shares of BellRing Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Finally, Cowen cut BellRing Brands from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

BellRing Brands Price Performance

BRBR opened at $26.66 on Monday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 3.65 and a beta of 0.67. The business’s 50-day moving average price is $30.09 and its two-hundred day moving average price is $39.92. BellRing Brands has a 1 year low of $22.45 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The firm had revenue of $648.20 million for the quarter, compared to analyst estimates of $633.21 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the transaction, the insider owned 54,812 shares of the company’s stock, valued at $1,695,335.16. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BRBR. Capital Research Global Investors bought a new stake in BellRing Brands in the 3rd quarter valued at $172,312,000. Alyeska Investment Group L.P. bought a new position in shares of BellRing Brands in the third quarter valued at about $98,944,000. AQR Capital Management LLC raised its position in shares of BellRing Brands by 253.9% in the third quarter. AQR Capital Management LLC now owns 3,748,812 shares of the company’s stock valued at $136,269,000 after purchasing an additional 2,689,664 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of BellRing Brands during the 2nd quarter worth about $124,777,000. Finally, Axiom Investors LLC DE boosted its holdings in shares of BellRing Brands by 418.1% during the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock worth $167,455,000 after buying an additional 1,814,811 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

About BellRing Brands

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.