JPMorgan Chase & Co. Lowers BellRing Brands (NYSE:BRBR) Price Target to $45.00

BellRing Brands (NYSE:BRBR) had its target price cut by JPMorgan Chase & Co. from $52.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 31.62% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Morgan Stanley cut their target price on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Truist Financial cut their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Mizuho cut their target price on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, August 18th. Finally, Evercore ISI cut their target price on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell 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 $64.27.

BellRing Brands Stock Down 3.3%

Shares of NYSE:BRBR opened at $34.19 on Thursday. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.70 and a beta of 0.75. The firm’s 50-day simple moving average is $38.24 and its 200-day simple moving average is $55.48. BellRing Brands has a fifty-two week low of $33.72 and a fifty-two week high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $282.40 million for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. On average, research analysts forecast that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to buy up to 7.7% 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 Buying and Selling

In related news, Director Shawn Conway purchased 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $36.41 per share, with a total value of $98,307.00. Following the completion of the transaction, the director owned 6,685 shares of the company’s stock, valued at approximately $243,400.85. This trade represents a 67.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig L. Rosenthal acquired 2,600 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $37.29 per share, with a total value of $96,954.00. Following the completion of the purchase, the insider owned 33,475 shares of the company’s stock, valued at $1,248,282.75. This trade represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,616 shares of company stock valued at $65,995,248 and sold 4,800 shares valued at $266,096. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Holocene Advisors LP raised its holdings in BellRing Brands by 50.7% in the second quarter. Holocene Advisors LP now owns 3,928,395 shares of the company’s stock valued at $227,572,000 after acquiring an additional 1,320,849 shares in the last quarter. Axiom Investors LLC DE increased its holdings in shares of BellRing Brands by 418.1% in the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock worth $167,455,000 after acquiring an additional 1,814,811 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of BellRing Brands in the 2nd quarter worth about $124,777,000. Driehaus Capital Management LLC increased its holdings in shares of BellRing Brands by 19.4% in the 1st quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company’s stock worth $108,824,000 after acquiring an additional 237,475 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of BellRing Brands in the 1st quarter worth about $97,725,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.