BellRing Brands (NYSE:BRBR) Stock Price Up 6.3% - Here's What Happened

Key Points

• BellRing Brands shares rose 6.3% in Tuesday mid-day trading, from a prior close of $9.62 to about $10.22; trading volume was 86% below its average.
• Analyst opinions are mixed: ten rate the stock Buy, seven Hold, and two Sell. MarketBeat reports a consensus Hold rating and an average price target of $18.57.
• Institutional investors own about 95% of the company’s shares, with several firms recently increasing their positions.

BellRing Brands Inc. (NYSE:BRBR - Get Free Report)'s share price traded up 6.3% during mid-day trading on Tuesday. The stock traded as high as $10.19 and last traded at $10.2240. 608,208 shares traded hands during trading, a decline of 86% from the average session volume of 4,342,598 shares. The stock had previously closed at $9.62.

Analyst Ratings Changes

BRBR has been the topic of several research reports. Weiss Ratings reissued a "sell (d)" rating on shares of BellRing Brands in a research report on Tuesday, October 6th. Barclays decreased 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, October 16th. Stifel Nicolaus raised their price target on BellRing Brands from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on BellRing Brands from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 27th. Finally, TD Cowen reduced their price objective on BellRing Brands from $12.00 to $9.00 and set a "hold" rating for the company in a research note on Tuesday, October 13th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.57.

BellRing Brands Trading Up 7.1%

The company's 50-day moving average is $9.02 and its two-hundred day moving average is $12.93. The stock has a market capitalization of $1.20 billion, a P/E ratio of 7.27, a P/E/G ratio of 4.86 and a beta of 0.47.

Hedge Funds Weigh In On BellRing Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of BellRing Brands in the 2nd quarter worth $42,868,000. Amundi increased its stake in BellRing Brands by 106.4% during the 1st quarter. Amundi now owns 2,255,734 shares of the company's stock worth $36,295,000 after purchasing an additional 1,162,996 shares in the last quarter. Bank of America Corp DE raised its holdings in BellRing Brands by 25.0% during the 1st quarter. Bank of America Corp DE now owns 1,248,761 shares of the company's stock worth $20,093,000 after buying an additional 250,144 shares during the period. Gabelli Funds LLC lifted its stake in BellRing Brands by 13.5% in the first quarter. Gabelli Funds LLC now owns 620,225 shares of the company's stock valued at $9,979,000 after buying an additional 73,700 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in BellRing Brands by 42.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,265,443 shares of the company's stock valued at $9,731,000 after buying an additional 378,466 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

BellRing Brands Company Profile

BellRing Brands, Inc. is a consumer nutrition company focused on convenient, protein-rich products. Its portfolio includes Premier Protein, which offers ready-to-drink shakes, powders and nutrition bars, and Dymatize, which makes sports nutrition products such as protein powders and supplements. The company sells its products primarily in the United States and also serves consumers in international markets. Its products are available through a range of retail and online channels. BellRing became an independent publicly traded company in 2019 after its separation from Post Holdings.

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