Primecap Management Co. CA Purchases New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Primecap Management Co. CA purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) during the third quarter, HoldingsChannel.com reports. The fund purchased 277,391 shares of the company’s stock, valued at approximately $16,843,000.

A number of other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands in the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in shares of BellRing Brands in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC lifted its position in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares during the period. Quarry LP boosted its stake in shares of BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after buying an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 2.8 %

Shares of BRBR opened at $78.60 on Friday. The company has a market capitalization of $10.16 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $78.68. The firm has a 50 day moving average of $65.65 and a 200 day moving average of $59.34.

BellRing Brands (NYSE:BRBR) last posted its quarterly 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. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, sell-side analysts expect that BellRing Brands, Inc. will post 2.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on BRBR shares. Evercore ISI lifted their price objective on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. DA Davidson reaffirmed a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday. Finally, Truist Financial increased their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.27.

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.