Edgestream Partners L.P. Has $9.64 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Edgestream Partners L.P. increased its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,710 shares of the company’s stock after acquiring an additional 15,359 shares during the period. BellRing Brands comprises about 0.5% of Edgestream Partners L.P.’s holdings, making the stock its 16th largest holding. Edgestream Partners L.P. owned approximately 0.13% of BellRing Brands worth $9,640,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of BellRing Brands in the second quarter worth $28,000. Rise Advisors LLC acquired a new position in BellRing Brands in the 1st quarter worth about $32,000. Parallel Advisors LLC raised its stake in shares of BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after buying an additional 615 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after buying an additional 374 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

NYSE BRBR opened at $59.14 on Tuesday. The stock has a 50-day simple moving average of $54.12 and a 200 day simple moving average of $56.63. BellRing Brands, Inc. has a twelve month low of $39.90 and a twelve month high of $62.76. The stock has a market capitalization of $7.71 billion, a PE ratio of 41.07, a P/E/G ratio of 1.51 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRBR. Stephens reaffirmed an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $62.64.

BellRing Brands Company 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.