BellRing Brands (NYSE:BRBR) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of BellRing Brands (NYSE:BRBR) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. They currently have $85.00 price objective on the stock.

BRBR has been the subject of several other research reports. Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Barclays set a $75.00 price target on BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Truist Financial lowered their price objective on shares of BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. Citigroup lowered their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, UBS Group cut their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and an average price target of $77.00.

BellRing Brands Stock Performance

NYSE BRBR opened at $61.71 on Tuesday. BellRing Brands has a one year low of $48.06 and a one year high of $80.67. The company’s 50 day moving average price is $70.34 and its 200 day moving average price is $73.08. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $577.56 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds have recently added to or reduced their stakes in BRBR. Vanguard Group Inc. lifted its position in shares of BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after buying an additional 135,105 shares during the last quarter. Franklin Resources Inc. raised its stake in BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock worth $344,885,000 after acquiring an additional 96,991 shares during the period. Invesco Ltd. raised its stake in BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after acquiring an additional 1,121,691 shares during the period. Wellington Management Group LLP lifted its holdings in BellRing Brands by 32.6% in the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after acquiring an additional 898,885 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company’s stock valued at $174,866,000 after acquiring an additional 564,342 shares during the period. 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.