BellRing Brands, Inc. (NYSE:BRBR) Short Interest Down 26.9% in March

BellRing Brands, Inc. (NYSE:BRBRGet Rating) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 3,950,000 shares, a decline of 26.9% from the March 15th total of 5,400,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is presently 3.2 days.

BRBR traded down $1.59 on Friday, reaching $24.23. The company’s stock had a trading volume of 715,549 shares, compared to its average volume of 1,040,298. The stock has a 50 day moving average of $24.85 and a two-hundred day moving average of $25.66. The company has a market capitalization of $942.30 million, a price-to-earnings ratio of 33.65, a P/E/G ratio of 1.43 and a beta of 0.96. BellRing Brands has a fifty-two week low of $20.36 and a fifty-two week high of $34.19.

BellRing Brands (NYSE:BRBRGet Rating) last announced its quarterly earnings results on Thursday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $306.50 million during the quarter, compared to the consensus estimate of $301.26 million. BellRing Brands had a negative return on equity of 1.30% and a net margin of 2.20%. During the same period in the prior year, the company posted $0.23 earnings per share. On average, research analysts forecast that BellRing Brands will post 1.09 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new stake in BellRing Brands in the third quarter valued at approximately $40,000. O Shaughnessy Asset Management LLC acquired a new position in BellRing Brands during the third quarter worth $73,000. Allspring Global Investments Holdings LLC acquired a new position in BellRing Brands during the fourth quarter worth $103,000. Royal Bank of Canada grew its holdings in BellRing Brands by 54.1% during the third quarter. Royal Bank of Canada now owns 4,200 shares of the company’s stock worth $129,000 after acquiring an additional 1,474 shares during the period. Finally, UBS Group AG grew its holdings in BellRing Brands by 410.0% during the third quarter. UBS Group AG now owns 4,478 shares of the company’s stock worth $138,000 after acquiring an additional 3,600 shares during the period.

Several equities analysts have weighed in on BRBR shares. BMO Capital Markets lifted their target price on BellRing Brands from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, March 11th. Morgan Stanley boosted their price objective on BellRing Brands from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 11th. The Goldman Sachs Group lowered their price objective on BellRing Brands from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, March 16th. Credit Suisse Group lowered their price objective on BellRing Brands from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 16th. Finally, Mizuho assumed coverage on BellRing Brands in a research report on Wednesday, January 26th. They set a “buy” rating and a $33.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.60.

BellRing Brands Company Profile (Get Rating)

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink shake and powder protein products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.

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