Morgan Stanley Cuts BellRing Brands (NYSE:BRBR) Price Target to $58.00

Key Points

• Morgan Stanley has reduced its price target for BellRing Brands from $78.00 to $58.00, maintaining an "overweight" rating, suggesting a potential upside of 50.46% from the current stock price.
• Other analysts, including UBS and Truist Financial, have also lowered their targets significantly, with UBS stating a new target of $40.00 and a "neutral" rating.
• Despite the downgrade by some, BellRing Brands has a majority of buy ratings from analysts, indicating overall positive sentiment with an average price target of $69.06.

BellRing Brands (NYSE:BRBR - Free Report) had its price target lowered by Morgan Stanley from $78.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup lowered their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Stephens raised BellRing Brands from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $68.00 to $50.00 in a research report on Wednesday. Barclays set a $75.00 target price on BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.86.

BellRing Brands Stock Performance

NYSE BRBR traded up $0.12 during trading hours on Wednesday, hitting $39.28. 987,159 shares of the company traded hands, compared to its average volume of 2,059,941. The business's 50-day moving average is $57.16 and its 200-day moving average is $66.80. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.37 and a beta of 0.72. BellRing Brands has a twelve month low of $34.02 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.49 by $0.06. The company had revenue of $547.50 million during the quarter, compared to the consensus estimate of $530.76 million. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Analysts predict that BellRing Brands will post 2.23 EPS for the current year.

Insider Activity at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the completion of the transaction, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shawn Conway purchased 2,700 shares of BellRing Brands stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $36.41 per share, for a total transaction of $98,307.00. Following the transaction, the director directly owned 6,685 shares in the company, valued at $243,400.85. This represents a 67.75% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 14,400 shares of company stock worth $836,224. Company insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after buying an additional 1,121,691 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after acquiring an additional 564,342 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after acquiring an additional 1,685,525 shares during the last quarter. Axiom Investors LLC DE boosted its stake in shares of BellRing Brands by 418.1% in the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company's stock valued at $167,455,000 after purchasing an additional 1,814,811 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of BellRing Brands during the 2nd quarter valued at approximately $124,777,000. 94.97% of the stock is currently owned by 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.