Putnam Investments LLC Decreases Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Putnam Investments LLC decreased its stake in BellRing Brands, Inc. (NYSE:BRBR) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,191 shares of the company’s stock after selling 61,728 shares during the quarter. Putnam Investments LLC owned approximately 0.15% of BellRing Brands worth $6,704,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New York Life Investment Management LLC grew its holdings in shares of BellRing Brands by 12.0% during the fourth quarter. New York Life Investment Management LLC now owns 24,579 shares of the company’s stock worth $630,000 after buying an additional 2,637 shares in the last quarter. Sei Investments Co. raised its holdings in BellRing Brands by 10.9% in the 4th quarter. Sei Investments Co. now owns 557,639 shares of the company’s stock valued at $14,298,000 after acquiring an additional 54,650 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in BellRing Brands in the 1st quarter worth approximately $301,000. Transatlantique Private Wealth LLC acquired a new position in shares of BellRing Brands during the 1st quarter worth approximately $245,000. Finally, Russell Investments Group Ltd. grew its position in shares of BellRing Brands by 101.3% in the first quarter. Russell Investments Group Ltd. now owns 85,317 shares of the company’s stock valued at $2,901,000 after purchasing an additional 42,935 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

BellRing Brands Price Performance

NYSE BRBR opened at $40.68 on Friday. The company has a market cap of $5.35 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.12 and a beta of 0.80. The stock has a 50-day moving average of $38.13 and a two-hundred day moving average of $35.92. BellRing Brands, Inc. has a 1-year low of $20.20 and a 1-year high of $42.00.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, August 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $445.90 million for the quarter, compared to analyst estimates of $439.90 million. BellRing Brands had a net margin of 9.73% and a negative return on equity of 44.58%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts anticipate that BellRing Brands, Inc. will post 1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

BRBR has been the topic of a number of recent research reports. Barclays boosted their price objective on BellRing Brands from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Stephens reissued an “overweight” rating and set a $43.00 price target on shares of BellRing Brands in a research report on Tuesday, August 8th. Needham & Company LLC restated a “buy” rating and set a $44.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 8th. Finally, Morgan Stanley boosted their target price on shares of BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $40.62.

BellRing Brands Profile

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