Bank of America Issues Pessimistic Forecast for BellRing Brands (NYSE:BRBR) Stock Price

BellRing Brands (NYSE:BRBR) had its price target reduced by analysts at Bank of America from $22.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 26.78% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. UBS Group decreased their target price on shares of BellRing Brands from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group decreased their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Stifel Nicolaus decreased their target price on shares of BellRing Brands from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. William Blair reiterated an “outperform” rating on shares of BellRing Brands in a report on Tuesday, February 3rd. Finally, Weiss Ratings lowered shares of BellRing Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $36.19.

BellRing Brands Stock Down 2.7%

BRBR stock opened at $14.99 on Friday. BellRing Brands has a 52 week low of $14.19 and a 52 week high of $79.57. The stock has a market capitalization of $1.76 billion, a P/E ratio of 10.34, a P/E/G ratio of 2.96 and a beta of 0.73. The firm has a 50-day simple moving average of $17.57 and a 200-day simple moving average of $25.60.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The company had revenue of $537.30 million during the quarter, compared to analysts’ expectations of $505.44 million. During the same quarter in the prior year, the company earned $0.58 EPS. BellRing Brands’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that BellRing Brands will post 2.23 earnings per share for the current year.

Insider Activity at BellRing Brands

In related news, Director David Isaiah Finkelstein acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the acquisition, the director owned 7,391 shares in the company, valued at $131,190.25. The trade was a 37.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently made changes to their positions in BRBR. Goldman Sachs Group Inc. lifted its holdings in shares of BellRing Brands by 20.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company’s stock worth $18,868,000 after acquiring an additional 42,666 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of BellRing Brands in the 1st quarter worth approximately $278,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BellRing Brands by 42.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock worth $72,000 after acquiring an additional 373 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of BellRing Brands by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,595 shares of the company’s stock worth $92,000 after acquiring an additional 755 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in BellRing Brands by 4.2% during the 2nd quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after buying an additional 9,179 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.