Holocene Advisors LP Takes $70 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Holocene Advisors LP purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,152,807 shares of the company’s stock, valued at approximately $69,998,000. Holocene Advisors LP owned 0.89% of BellRing Brands at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of BellRing Brands during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in shares of BellRing Brands during the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC boosted its position in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after purchasing an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands during the 3rd quarter valued at about $44,000. Finally, Quarry LP boosted its position 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. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 1.1 %

BRBR stock opened at $77.62 on Tuesday. The firm has a market capitalization of $10.00 billion, a PE ratio of 41.51, a P/E/G ratio of 2.63 and a beta of 0.84. The stock’s 50 day moving average is $67.46 and its 200-day moving average is $59.99. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $79.90.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BRBR. Jefferies Financial Group upped their target price on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Evercore ISI increased their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Barclays increased their price target on BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Mizuho increased their price target on BellRing Brands from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.60.

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.