BellRing Brands (NYSE:BRBR) Stock Falls 5.3% – Here’s Why

Shares of BellRing Brands Inc. (NYSE:BRBR) dropped 5.3% on Wednesday. The stock traded as low as $9.06 and last traded at $9.0060. Approximately 1,222,084 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 4,417,579 shares. The stock had previously closed at $9.51.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BRBR shares. UBS Group set a $9.50 target price on shares of BellRing Brands in a report on Thursday, October 15th. TD Cowen lowered their price target on shares of BellRing Brands from $12.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, October 13th. JPMorgan Chase & Co. boosted their price objective on shares of BellRing Brands from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays reduced their price objective on shares of BellRing Brands from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Hold” and a consensus target price of $18.70.

BellRing Brands Stock Down 5.3%

The firm’s 50 day simple moving average is $9.34 and its 200-day simple moving average is $11.14. The company has a market capitalization of $1.05 billion, a PE ratio of 6.34, a P/E/G ratio of 4.47 and a beta of 0.43.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.07). The company had revenue of $570.40 million for the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. As a group, sell-side analysts anticipate that BellRing Brands Inc. will post 1.03 EPS for the current fiscal year.

Institutional Trading of BellRing Brands

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in shares of BellRing Brands by 336.0% during the third quarter. Versant Capital Management Inc now owns 4,643 shares of the company’s stock worth $36,000 after acquiring an additional 3,578 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of BellRing Brands in the 3rd quarter worth about $39,000. IFP Advisors Inc lifted its position in BellRing Brands by 279.4% in the 2nd quarter. IFP Advisors Inc now owns 3,957 shares of the company’s stock valued at $51,000 after purchasing an additional 2,914 shares during the last quarter. Parallel Advisors LLC lifted its position in BellRing Brands by 52.2% in the 1st quarter. Parallel Advisors LLC now owns 3,232 shares of the company’s stock valued at $52,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Nykredit A S bought a new stake in BellRing Brands in the 2nd quarter valued at about $65,000. Institutional investors own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.