Evercore ISI Has Lowered Expectations for BellRing Brands (NYSE:BRBR) Stock Price

BellRing Brands (NYSE:BRBR - Get Free Report) had its price target cut by investment analysts at Evercore ISI from $90.00 to $82.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's target price would indicate a potential upside of 34.03% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Citigroup increased their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Barclays raised their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Mizuho lifted their target price on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, UBS Group initiated coverage on shares of BellRing Brands in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $81.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

BellRing Brands Stock Down 1.1 %

NYSE:BRBR traded down $0.66 during trading hours on Wednesday, reaching $61.18. 1,993,837 shares of the stock were exchanged, compared to its average volume of 1,273,192. BellRing Brands has a 52 week low of $48.06 and a 52 week high of $80.67. The stock has a market capitalization of $7.85 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86. The firm has a 50 day simple moving average of $72.00 and a 200-day simple moving average of $73.52.

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

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

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands 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 transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the completion of the sale, the director now directly owns 938,457 shares of the company's stock, valued at $72,608,418.09. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,828 shares of company stock valued at $16,917,365 over the last ninety days. Corporate insiders own 1.07% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of BellRing Brands during the 1st quarter valued at $91,000. Deutsche Bank AG boosted its position in BellRing Brands by 41.5% during the first quarter. Deutsche Bank AG now owns 505,353 shares of the company's stock valued at $37,629,000 after purchasing an additional 148,110 shares during the last quarter. Primecap Management Co. CA grew its stake in BellRing Brands by 11.9% in the first quarter. Primecap Management Co. CA now owns 604,400 shares of the company's stock valued at $45,004,000 after purchasing an additional 64,400 shares in the last quarter. Legacy Capital Group California Inc. grew its stake in BellRing Brands by 16.7% in the first quarter. Legacy Capital Group California Inc. now owns 3,245 shares of the company's stock valued at $242,000 after purchasing an additional 464 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in BellRing Brands by 21.0% in the 1st quarter. Manchester Capital Management LLC now owns 2,912 shares of the company's stock worth $217,000 after purchasing an additional 506 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.