BellRing Brands (NYSE:BRBR) Shares Down 5.3% – Here’s What Happened

BellRing Brands Inc. (NYSE:BRBR) shares traded down 5.3% during trading on Wednesday. The company traded as low as $9.06 and last traded at $9.0060. 1,222,084 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,417,579 shares. The stock had previously closed at $9.51.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of BellRing Brands in a research note on Thursday, July 9th. Stifel Nicolaus upped their price target on BellRing Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. BNP Paribas Exane assumed coverage on BellRing Brands in a report on Friday, October 9th. They set an “outperform” rating and a $12.00 price target for the company. JPMorgan Chase & Co. raised their price objective on BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Barclays cut their price objective on BellRing Brands from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.70.

BellRing Brands Stock Performance

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 4.26 and a beta of 0.43. The company has a 50-day moving average price of $9.28 and a 200-day moving average price of $11.04.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.07). The business had revenue of $570.40 million for the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%. BellRing Brands’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. On average, research analysts expect that BellRing Brands Inc. will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Several hedge funds have recently added to or reduced their stakes in BRBR. Isthmus Partners LLC grew its position in shares of BellRing Brands by 108.5% in the 3rd quarter. Isthmus Partners LLC now owns 284,751 shares of the company’s stock valued at $2,190,000 after buying an additional 148,182 shares during the last quarter. Counterpoint Mutual Funds LLC lifted its position in BellRing Brands by 55.8% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,084,423 shares of the company’s stock valued at $8,339,000 after acquiring an additional 388,319 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in BellRing Brands by 42.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,265,443 shares of the company’s stock valued at $9,731,000 after acquiring an additional 378,466 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in BellRing Brands in the third quarter valued at $39,000. Finally, Everhart Financial Group Inc. acquired a new position in BellRing Brands in the third quarter valued at $79,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

About BellRing Brands

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.