BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC grew its position in BellRing Brands, Inc. (NYSE:BRBR) by 179.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 461,864 shares of the company’s stock after purchasing an additional 296,397 shares during the period. Verition Fund Management LLC owned approximately 0.36% of BellRing Brands worth $28,044,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Braun Stacey Associates Inc. acquired a new position in BellRing Brands during the third quarter valued at approximately $18,680,000. Dimensional Fund Advisors LP boosted its position in BellRing Brands by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after purchasing an additional 86,992 shares during the period. WINTON GROUP Ltd boosted its position in BellRing Brands by 186.5% during the 2nd quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after purchasing an additional 29,060 shares during the period. Federated Hermes Inc. increased its holdings in BellRing Brands by 28.0% in the 2nd quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock valued at $27,094,000 after purchasing an additional 103,604 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of BellRing Brands by 72.3% during the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock worth $30,419,000 after purchasing an additional 223,430 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $77.16 on Friday. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $79.90. The firm’s 50-day simple moving average is $67.10 and its 200-day simple moving average is $59.85. The firm has a market cap of $9.94 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 2.59 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. BellRing Brands’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BRBR. Deutsche Bank Aktiengesellschaft increased their target price on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Mizuho lifted their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.60.

BellRing Brands Profile

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