BellRing Brands (NYSE:BRBR) Shares Down 5.3% - Here's Why

Key Points

• BellRing Brands shares fell 5.3% to about $9.01, with trading volume roughly 72% below the average session volume.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an $18.70 average target price, despite several Buy/Overweight ratings and one recent Strong Sell downgrade.
• The company’s latest quarterly results showed EPS of $0.30 versus the $0.37 estimate, while revenue rose 4.2% year over year to $570.4 million and exceeded expectations.

BellRing Brands Inc. (NYSE:BRBR - Get Free Report)'s share price traded down 5.3% during trading on Wednesday. The company traded as low as $9.06 and last traded at $9.0060. Approximately 1,222,084 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,417,579 shares. The stock had previously closed at $9.51.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stephens reiterated an "overweight" rating and issued a $20.00 target price on shares of BellRing Brands in a research note on Thursday, July 9th. BNP Paribas Exane assumed coverage on BellRing Brands in a report on Friday, October 9th. They set an "outperform" rating and a $12.00 target price for the company. Barclays cut their price target on shares of BellRing Brands from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. Stifel Nicolaus increased their price objective on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, Zacks Research downgraded BellRing Brands from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 14th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.70.

BellRing Brands Stock Down 5.3%

The company's 50-day moving average price is $9.34 and its 200-day moving average price is $11.14. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 6.34, a price-to-earnings-growth ratio of 4.47 and a beta of 0.43.

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

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds have recently made changes to their positions in the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of BellRing Brands during the 2nd quarter worth approximately $42,868,000. Amundi increased its position in BellRing Brands by 106.4% during the first quarter. Amundi now owns 2,255,734 shares of the company's stock worth $36,295,000 after buying an additional 1,162,996 shares in the last quarter. Pacer Advisors Inc. increased its position in BellRing Brands by 2,125.3% during the first quarter. Pacer Advisors Inc. now owns 590,362 shares of the company's stock worth $9,499,000 after buying an additional 563,833 shares in the last quarter. Steamboat Capital Partners LLC acquired a new position in shares of BellRing Brands in the second quarter worth $5,118,000. Finally, Counterpoint Mutual Funds LLC raised its holdings in shares of BellRing Brands by 55.8% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,084,423 shares of the company's stock worth $8,339,000 after acquiring an additional 388,319 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

About BellRing Brands

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.

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