JPMorgan Chase & Co. Cuts BellRing Brands (NYSE:BRBR) Price Target to $13.00

BellRing Brands (NYSE:BRBR) had its target price cut by JPMorgan Chase & Co. from $21.00 to $13.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on BRBR. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price target on shares of BellRing Brands in a report on Wednesday, February 4th. TD Cowen lowered their price target on shares of BellRing Brands from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America lowered their price target on shares of BellRing Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. UBS Group lowered their price target on shares of BellRing Brands from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Weiss Ratings lowered shares of BellRing Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.73.

BellRing Brands Price Performance

Shares of BRBR opened at $10.34 on Wednesday. The firm has a market capitalization of $1.21 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 4.76 and a beta of 0.74. BellRing Brands has a 1-year low of $9.22 and a 1-year high of $67.00. The company’s fifty day moving average price is $16.33 and its 200-day moving average price is $23.17.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). The company had revenue of $598.70 million for the quarter, compared to analysts’ expectations of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. BellRing Brands’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. As a group, research analysts anticipate that BellRing Brands will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was acquired at an average price of $17.75 per share, for a total transaction of $35,500.00. Following the completion of the transaction, the director owned 7,391 shares in the company, valued at approximately $131,190.25. The trade was a 37.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of BellRing Brands by 86.9% in the fourth quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock worth $187,013,000 after acquiring an additional 3,258,035 shares during the period. Wasatch Advisors LP raised its position in shares of BellRing Brands by 30.5% in the third quarter. Wasatch Advisors LP now owns 6,750,018 shares of the company’s stock worth $245,363,000 after acquiring an additional 1,575,812 shares during the period. Capital Research Global Investors acquired a new position in shares of BellRing Brands in the third quarter worth about $172,312,000. The Manufacturers Life Insurance Company raised its position in shares of BellRing Brands by 156.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock worth $102,380,000 after acquiring an additional 2,336,029 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of BellRing Brands by 0.5% in the third quarter. Wellington Management Group LLP now owns 3,691,528 shares of the company’s stock worth $134,187,000 after acquiring an additional 19,471 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.