Bank of America Boosts BellRing Brands (NYSE:BRBR) Price Target to $32.00

BellRing Brands (NYSE:BRBR) had its target price upped by analysts at Bank of America from $28.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 10.46% from the company’s current price.

BRBR has been the subject of a number of other research reports. Morgan Stanley lowered their target price on shares of BellRing Brands from $43.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. UBS Group reiterated a “neutral” rating and set a $34.00 price target on shares of BellRing Brands in a report on Friday, November 28th. Evercore ISI dropped their price objective on BellRing Brands from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $62.00 target price on BellRing Brands in a research note on Monday, December 15th. Finally, DA Davidson set a $38.00 price target on BellRing Brands in a research note on Thursday, November 20th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

BellRing Brands Price Performance

Shares of BRBR opened at $28.97 on Friday. The business has a 50-day moving average of $30.72 and a 200-day moving average of $41.60. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.67. BellRing Brands has a 1 year low of $22.45 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The firm had revenue of $648.20 million for the quarter, compared to analyst estimates of $633.21 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the transaction, the insider owned 54,812 shares in the company, valued at approximately $1,695,335.16. This represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in BRBR. Raymond James Financial Inc. increased its holdings in BellRing Brands by 24.7% during the 1st quarter. Raymond James Financial Inc. now owns 303,769 shares of the company’s stock worth $22,619,000 after purchasing an additional 60,130 shares in the last quarter. Credit Agricole S A grew its holdings in BellRing Brands by 5.3% during the first quarter. Credit Agricole S A now owns 132,323 shares of the company’s stock worth $9,853,000 after buying an additional 6,641 shares in the last quarter. Martingale Asset Management L P purchased a new stake in BellRing Brands in the 1st quarter valued at $219,000. Compound Planning Inc. raised its position in BellRing Brands by 10.2% in the 1st quarter. Compound Planning Inc. now owns 4,413 shares of the company’s stock valued at $329,000 after buying an additional 410 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in BellRing Brands by 287.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $65,000 after acquiring an additional 649 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

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.