BellRing Brands (NYSE:BRBR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded BellRing Brands from “strong sell” to “hold.” Analyst opinions are mixed: MarketBeat reports an overall “hold” consensus and an average price target of $18.57.
• BellRing shares rose 3.3% to $10.58 on Thursday. The stock remains well below its 52-week high of $33.56.
• Institutional ownership stands at 94.97%; several investment firms added to or opened positions in the company during the third quarter.

BellRing Brands (NYSE:BRBR - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Thursday, Zacks reports.

Other equities research analysts have also issued reports about the stock. BNP Paribas Exane initiated coverage on shares of BellRing Brands in a research note on Friday, October 9th. They issued an "outperform" rating and a $12.00 price target on the stock. TD Cowen cut their price target on shares of BellRing Brands from $12.00 to $9.00 and set a "hold" rating on the stock in a research report on Tuesday, October 13th. DA Davidson increased their price objective on shares of BellRing Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Tuesday, October 27th. Finally, Barclays decreased their price objective on BellRing Brands from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $18.57.

BellRing Brands Stock Up 3.3%

Shares of BRBR stock traded up $0.34 during trading on Thursday, reaching $10.58. The company's stock had a trading volume of 4,665,716 shares, compared to its average volume of 3,587,276. The business has a fifty day moving average price of $9.00 and a 200-day moving average price of $12.60. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 4.86 and a beta of 0.47. BellRing Brands has a one year low of $7.33 and a one year high of $33.56.

Hedge Funds Weigh In On BellRing Brands

A number of institutional investors have recently added to or reduced their stakes in BRBR. Empowered Funds LLC raised its position in BellRing Brands by 1,388.1% during the third quarter. Empowered Funds LLC now owns 218,866 shares of the company's stock worth $1,683,000 after acquiring an additional 204,158 shares in the last quarter. Caxton Associates LLP acquired a new stake in BellRing Brands in the third quarter valued at $459,000. Polymer Capital Management US LLC acquired a new stake in BellRing Brands in the third quarter valued at $186,000. Edgestream Partners L.P. bought a new position in shares of BellRing Brands in the 3rd quarter valued at about $8,100,000. Finally, Royce & Associates LP grew its position in shares of BellRing Brands by 36.4% in the 3rd quarter. Royce & Associates LP now owns 17,486 shares of the company's stock valued at $134,000 after acquiring an additional 4,664 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

About BellRing Brands

BellRing Brands, Inc. is a consumer nutrition company focused on convenient, protein-rich products. Its portfolio includes Premier Protein, which offers ready-to-drink shakes, powders and nutrition bars, and Dymatize, which makes sports nutrition products such as protein powders and supplements. The company sells its products primarily in the United States and also serves consumers in international markets. Its products are available through a range of retail and online channels. BellRing became an independent publicly traded company in 2019 after its separation from Post Holdings.

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