Edgestream Partners L.P. Has $3.06 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Edgestream Partners L.P. lowered its stake in BellRing Brands, Inc. (NYSE:BRBR) by 70.1% during the third quarter, Holdings Channel.com reports. The fund owned 50,453 shares of the company’s stock after selling 118,257 shares during the period. Edgestream Partners L.P.’s holdings in BellRing Brands were worth $3,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in BellRing Brands during the second quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in BellRing Brands during the third quarter worth approximately $31,000. Farther Finance Advisors LLC increased its position in BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after buying an additional 474 shares during the last quarter. Truvestments Capital LLC acquired a new position in BellRing Brands during the third quarter worth approximately $44,000. Finally, Quarry LP increased its position in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays boosted their price target on BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Truist Financial boosted their price objective on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Finally, Evercore ISI boosted their price objective on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.60.

BellRing Brands Trading Up 1.7 %

Shares of BRBR stock opened at $78.46 on Monday. The stock has a market cap of $10.10 billion, a P/E ratio of 41.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. The stock has a 50 day simple moving average of $67.46 and a 200 day simple moving average of $59.99. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $79.90.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts forecast that BellRing Brands, Inc. will post 2.16 EPS for the current year.

BellRing Brands Profile

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.