TD Cowen Cuts BellRing Brands (NYSE:BRBR) Price Target to $37.00

BellRing Brands (NYSE:BRBR) had its price target decreased by TD Cowen from $45.00 to $37.00 in a research report report published on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Truist Financial decreased their price objective on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. cut their target price on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of BellRing Brands in a report on Wednesday, October 8th. Stifel Nicolaus dropped their price objective on BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Finally, Evercore ISI cut their price objective on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.56.

BellRing Brands Stock Performance

BRBR opened at $26.82 on Thursday. The company has a market cap of $3.38 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. The stock has a 50-day moving average of $33.60 and a 200-day moving average of $47.71. BellRing Brands has a 52-week low of $26.42 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The firm had revenue of $282.40 million during the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. On average, research analysts predict that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has authorized a share repurchase program on Tuesday, September 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of BellRing Brands by 101.2% during the 3rd quarter. Creative Planning now owns 28,366 shares of the company’s stock worth $1,031,000 after purchasing an additional 14,267 shares in the last quarter. AQR Capital Management LLC lifted its position in BellRing Brands by 253.9% in the third quarter. AQR Capital Management LLC now owns 3,748,812 shares of the company’s stock worth $136,269,000 after purchasing an additional 2,689,664 shares during the period. Credit Agricole S A bought a new position in BellRing Brands in the third quarter worth $17,079,000. Raymond James Financial Inc. boosted its stake in BellRing Brands by 10.4% during the third quarter. Raymond James Financial Inc. now owns 416,271 shares of the company’s stock worth $15,131,000 after buying an additional 39,273 shares in the last quarter. Finally, Amundi bought a new stake in BellRing Brands in the 3rd quarter valued at $17,644,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.