BellRing Brands (NYSE:BRBR) Price Target Cut to $24.00 by Analysts at Morgan Stanley

BellRing Brands (NYSE:BRBR) had its price target decreased by Morgan Stanley from $32.00 to $24.00 in a report published on Thursday, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research firms also recently weighed in on BRBR. Stifel Nicolaus cut their price target on BellRing Brands from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Jefferies Financial Group lowered their price objective on BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 target price on shares of BellRing Brands in a research report on Monday, January 26th. Weiss Ratings downgraded shares of BellRing Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Finally, Barclays lowered their price target on shares of BellRing Brands from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.88.

BellRing Brands Trading Down 1.3%

BellRing Brands stock opened at $16.30 on Thursday. The business’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $24.41. BellRing Brands has a 12 month low of $14.19 and a 12 month high of $79.57. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 5.31 and a beta of 0.73.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $537.30 million during the quarter, compared to the consensus estimate of $505.44 million. BellRing Brands had a negative return on equity of 64.79% and a net margin of 7.88%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. As a group, equities research analysts forecast that BellRing Brands will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Isaiah Finkelstein bought 2,000 shares of the business’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 purchase, the director directly owned 7,391 shares in the company, valued at $131,190.25. This trade represents a 37.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors and hedge funds have recently modified their holdings of BRBR. Assenagon Asset Management S.A. lifted its stake in BellRing Brands by 331.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company’s stock worth $35,733,000 after purchasing an additional 1,026,921 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in BellRing Brands by 820.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,808 shares of the company’s stock valued at $1,662,000 after purchasing an additional 42,612 shares during the period. Boothbay Fund Management LLC grew its position in shares of BellRing Brands by 1,954.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company’s stock valued at $7,514,000 after purchasing an additional 196,655 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of BellRing Brands during the 3rd quarter valued at $1,287,000. Finally, William Blair Investment Management LLC increased its holdings in shares of BellRing Brands by 17.0% in the third quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock worth $91,604,000 after purchasing an additional 366,121 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.