UBS Group Cuts BellRing Brands (NYSE:BRBR) Price Target to $71.00

BellRing Brands (NYSE:BRBR) had its price target lowered by UBS Group from $81.00 to $71.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

BRBR has been the topic of a number of other reports. Evercore ISI reduced their price target on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Mizuho upped their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Citigroup increased their price target on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, TD Cowen boosted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

BellRing Brands Stock Down 1.1 %

NYSE BRBR opened at $61.18 on Wednesday. The stock has a market cap of $7.85 billion, a PE ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86. The business has a 50 day moving average price of $72.00 and a two-hundred day moving average price of $73.46. BellRing Brands has a fifty-two week low of $48.06 and a fifty-two week high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same quarter last year, the firm earned $0.45 EPS. BellRing Brands’s quarterly revenue was up 18.9% on a year-over-year basis. Sell-side analysts anticipate that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the transaction, the director now directly owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock worth $16,917,365 over the last quarter. 1.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC increased its stake in shares of BellRing Brands by 152.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after purchasing an additional 10,117 shares during the period. Encompass More Asset Management bought a new position in BellRing Brands during the 4th quarter worth $549,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of BellRing Brands by 4.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company’s stock worth $6,223,000 after buying an additional 3,865 shares in the last quarter. Truist Financial Corp boosted its position in shares of BellRing Brands by 11.8% in the fourth quarter. Truist Financial Corp now owns 672,139 shares of the company’s stock valued at $50,639,000 after acquiring an additional 70,878 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of BellRing Brands in the fourth quarter valued at about $10,673,000. 94.97% of the stock is owned by institutional investors.

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.