BellRing Brands, Inc. (NYSE:BRBR – Get Rating) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 3,720,000 shares, a drop of 9.3% from the May 15th total of 4,100,000 shares. Based on an average daily volume of 934,700 shares, the short-interest ratio is presently 4.0 days.
Analysts Set New Price Targets
A number of brokerages have commented on BRBR. Mizuho lifted their target price on BellRing Brands from $38.00 to $47.00 in a research note on Thursday, May 11th. Citigroup boosted their price objective on BellRing Brands from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Stephens boosted their price objective on BellRing Brands from $39.00 to $43.00 in a research report on Wednesday, May 10th. Truist Financial upgraded BellRing Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $40.00 in a research report on Thursday, March 23rd. Finally, Bank of America boosted their price objective on BellRing Brands from $35.00 to $41.00 in a research report on Tuesday, May 9th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.15.
BellRing Brands Price Performance
Shares of NYSE:BRBR opened at $35.96 on Friday. BellRing Brands has a 12 month low of $20.20 and a 12 month high of $37.91. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.10 and a beta of 0.87. The stock’s 50 day moving average price is $35.93 and its 200 day moving average price is $31.23.
BellRing Brands (NYSE:BRBR – Get Rating) last announced its earnings results on Monday, May 8th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. BellRing Brands had a negative return on equity of 42.81% and a net margin of 9.87%. The firm had revenue of $385.60 million for the quarter, compared to analysts’ expectations of $371.26 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that BellRing Brands will post 1.27 EPS for the current year.
Insider Buying and Selling
In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $35.82, for a total value of $537,300.00. Following the completion of the transaction, the chairman now directly owns 230,054 shares in the company, valued at $8,240,534.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in BellRing Brands by 0.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,791 shares of the company’s stock worth $2,441,000 after purchasing an additional 381 shares in the last quarter. Tower Research Capital LLC TRC grew its position in BellRing Brands by 14.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $172,000 after purchasing an additional 656 shares in the last quarter. LPL Financial LLC grew its position in BellRing Brands by 3.3% during the 4th quarter. LPL Financial LLC now owns 22,385 shares of the company’s stock worth $574,000 after purchasing an additional 710 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in BellRing Brands by 2.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 35,324 shares of the company’s stock worth $906,000 after purchasing an additional 710 shares in the last quarter. Finally, Arizona State Retirement System grew its position in BellRing Brands by 2.0% during the 1st quarter. Arizona State Retirement System now owns 39,202 shares of the company’s stock worth $1,333,000 after purchasing an additional 757 shares in the last quarter. Institutional investors own 92.40% of the company’s stock.
BellRing Brands Company 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.