BellRing Brands Inc. $BRBR Stock: Assenagon Asset Management S.A. Increases Stake

Key Points

• Assenagon Asset Management increased its BellRing Brands stake by 42.7% in the third quarter, acquiring 378,466 additional shares and holding 1.27 million shares worth approximately $9.7 million. Institutional investors collectively own 94.97% of BRBR.
• Analyst sentiment remains mixed: 10 analysts rate the stock a Buy, seven a Hold and two a Sell. The average rating is Hold, with an average price target of $18.70, while recent targets ranged from $9.00 to $17.00.
• BellRing shares opened at $9.59, near their 50-day average of $9.38 and below the 200-day average of $11.18. In its latest quarter, revenue rose 4.2% year over year to $570.4 million but earnings per share of $0.30 missed the $0.37 consensus estimate.

Assenagon Asset Management S.A. boosted its position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 42.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265,443 shares of the company's stock after acquiring an additional 378,466 shares during the period. Assenagon Asset Management S.A. owned 1.09% of BellRing Brands worth $9,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BRBR. Leonteq Securities AG lifted its position in shares of BellRing Brands by 11.3% during the 1st quarter. Leonteq Securities AG now owns 9,627 shares of the company's stock worth $155,000 after purchasing an additional 976 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of BellRing Brands by 52.2% in the first quarter. Parallel Advisors LLC now owns 3,232 shares of the company's stock valued at $52,000 after acquiring an additional 1,109 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of BellRing Brands by 67.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,488 shares of the company's stock worth $72,000 after acquiring an additional 1,809 shares during the last quarter. IFP Advisors Inc grew its stake in shares of BellRing Brands by 279.4% in the second quarter. IFP Advisors Inc now owns 3,957 shares of the company's stock worth $51,000 after acquiring an additional 2,914 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of BellRing Brands by 8.1% in the second quarter. Handelsbanken Fonder AB now owns 46,580 shares of the company's stock worth $603,000 after acquiring an additional 3,500 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRBR has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Barclays cut their target price on shares of BellRing Brands from $14.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of BellRing Brands from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. TD Cowen decreased 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. Finally, UBS Group set a $9.50 price target on shares of BellRing Brands in a research report on Thursday. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.70.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $9.59 on Tuesday. The firm has a fifty day moving average of $9.38 and a 200-day moving average of $11.18. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 4.40 and a beta of 0.43. BellRing Brands Inc. has a 52-week low of $7.33 and a 52-week high of $34.39.

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

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company focused on convenient nutrition products. The company develops, markets and sells ready-to-drink protein shakes, protein powders, protein bars and other sports-nutrition products designed for consumers seeking portable sources of protein and nutrition.

BellRing's principal brands include Premier Protein, which offers shakes, powders and bars, and Dymatize, a sports-nutrition brand known for protein powders and related nutritional products.

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