BellRing Brands (NYSE:BRBR) Given New $75.00 Price Target at Mizuho

BellRing Brands (NYSE:BRBR - Get Free Report) had its price target cut by equities research analysts at Mizuho from $85.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 23.37% from the stock's current price.

Other analysts also recently issued research reports about the company. Truist Financial decreased their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. UBS Group decreased their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays set a $75.00 price objective on BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, BellRing Brands currently has an average rating of "Moderate Buy" and an average target price of $77.00.

BellRing Brands Stock Down 0.4%

Shares of NYSE BRBR traded down $0.22 on Wednesday, hitting $60.80. The company had a trading volume of 972,048 shares, compared to its average volume of 1,327,087. BellRing Brands has a 12-month low of $48.06 and a 12-month high of $80.67. The business has a 50 day moving average of $70.78 and a two-hundred day moving average of $73.23. The firm has a market capitalization of $7.72 billion, a P/E ratio of 28.52, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction 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. This trade represents a 5.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.07% of the company's stock.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its position in shares of BellRing Brands by 11.8% during the 4th quarter. Truist Financial Corp now owns 672,139 shares of the company's stock worth $50,639,000 after buying an additional 70,878 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $10,673,000. LMR Partners LLP purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $17,328,000. Raymond James Financial Inc. purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $18,356,000. Finally, Savant Capital LLC purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $2,207,000. Institutional investors own 94.97% of the company's stock.

About BellRing Brands

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.

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