Citigroup Cuts BellRing Brands (NYSE:BRBR) Price Target to $80.00

BellRing Brands (NYSE:BRBR) had its target price decreased by Citigroup from $90.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 29.15% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Mizuho raised their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays lifted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. UBS Group cut their price target on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday. TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI cut their target price on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $61.95 on Wednesday. BellRing Brands has a one year low of $48.06 and a one year high of $80.67. The company has a market capitalization of $7.95 billion, a PE ratio of 29.08, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a 50-day simple moving average of $72.20 and a two-hundred day simple moving average of $73.49.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same period last year, the firm earned $0.45 earnings per share. BellRing Brands’s revenue was up 18.9% compared to the same quarter last year. On average, equities analysts predict 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 share buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the sale, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors have recently added to or reduced their stakes in BRBR. AQR Capital Management LLC lifted its holdings in BellRing Brands by 284.2% during the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after purchasing an additional 1,685,525 shares in the last quarter. Norges Bank acquired a new stake in BellRing Brands in the 4th quarter worth about $114,185,000. Invesco Ltd. increased its stake in BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after acquiring an additional 898,885 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of BellRing Brands by 77.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company’s stock valued at $131,137,000 after acquiring an additional 768,595 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.