Macquarie Group Ltd. Has $2.61 Million Stake in BellRing Brands, Inc. (NYSE:BRBR)

Macquarie Group Ltd. boosted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 4,761.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,759 shares of the company’s stock after acquiring an additional 75,180 shares during the quarter. Macquarie Group Ltd. owned 0.06% of BellRing Brands worth $2,610,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in BellRing Brands during the first quarter worth $31,000. Point72 Middle East FZE acquired a new position in BellRing Brands during the fourth quarter worth $33,000. Belpointe Asset Management LLC acquired a new position in BellRing Brands during the fourth quarter worth $34,000. Quadrant Capital Group LLC raised its stake in BellRing Brands by 1,088.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,367 shares of the company’s stock worth $35,000 after acquiring an additional 1,252 shares in the last quarter. Finally, McIlrath & Eck LLC raised its stake in BellRing Brands by 685.2% during the first quarter. McIlrath & Eck LLC now owns 1,853 shares of the company’s stock worth $63,000 after acquiring an additional 1,617 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Down 0.9 %

BellRing Brands stock opened at $40.30 on Tuesday. The business’s 50-day simple moving average is $38.13 and its 200 day simple moving average is $35.96. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 2.14 and a beta of 0.80. BellRing Brands, Inc. has a 12-month low of $20.20 and a 12-month high of $42.00.

BellRing Brands (NYSE:BRBR) last issued 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. BellRing Brands had a negative return on equity of 44.58% and a net margin of 9.73%. The firm had revenue of $445.90 million for the quarter, compared to analysts’ expectations of $439.90 million. During the same quarter last year, the business earned $0.31 earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 1.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $44.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 8th. Barclays increased their target price on BellRing Brands from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Stephens restated an “overweight” rating and set a $43.00 target price on shares of BellRing Brands in a report on Tuesday, August 8th. Finally, Morgan Stanley increased their target price on BellRing Brands from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $40.62.

About BellRing Brands

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.