BellRing Brands, Inc. (NYSE:BRBR) Short Interest Update

BellRing Brands, Inc. (NYSE:BRBR) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,790,000 shares, a growth of 8.6% from the March 15th total of 3,490,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is currently 3.1 days.

BellRing Brands Price Performance

Shares of BellRing Brands stock traded up $0.70 during trading on Wednesday, hitting $55.21. The company’s stock had a trading volume of 899,437 shares, compared to its average volume of 916,550. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. BellRing Brands has a 52 week low of $33.99 and a 52 week high of $62.76. The stock has a 50-day moving average price of $58.22 and a two-hundred day moving average price of $52.99.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm 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%. On average, equities analysts predict that BellRing Brands will post 1.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup started coverage on BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target on the stock. Morgan Stanley lifted their price objective on shares of BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Truist Financial downgraded BellRing Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Stephens reiterated an “equal weight” rating and issued a $51.00 target price on shares of BellRing Brands in a research report on Tuesday, February 6th. Finally, Needham & Company LLC raised their price target on shares of BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and an average price target of $57.08.

Insider Activity

In other news, Director Elliot Stein, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 24,646 shares in the company, valued at $1,424,785.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.80% of the company’s stock.

Institutional Trading of BellRing Brands

Institutional investors have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC acquired a new stake in BellRing Brands during the third quarter worth approximately $697,000. International Assets Investment Management LLC bought a new position in BellRing Brands in the fourth quarter worth approximately $5,076,000. Federated Hermes Inc. increased its holdings in shares of BellRing Brands by 19.8% during the third quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock valued at $10,914,000 after acquiring an additional 43,766 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of BellRing Brands by 273.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock worth $44,298,000 after purchasing an additional 786,756 shares during the period. Finally, Boston Partners acquired a new stake in BellRing Brands in the 3rd quarter valued at $19,316,000. 94.97% of the stock is currently owned by institutional investors.

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.