Assenagon Asset Management S.A. Raises Position in BellRing Brands, Inc. (NYSE:BRBR)

Assenagon Asset Management S.A. boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 200.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 992,585 shares of the company’s stock after buying an additional 661,774 shares during the period. Assenagon Asset Management S.A.’s holdings in BellRing Brands were worth $74,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BRBR. V Square Quantitative Management LLC purchased a new stake in shares of BellRing Brands during the 3rd quarter valued at $31,000. Farther Finance Advisors LLC increased its stake in BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after acquiring an additional 474 shares during the last quarter. Truvestments Capital LLC bought a new position in BellRing Brands in the third quarter valued at $44,000. Quarry LP raised its position in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in BellRing Brands by 53.9% during the third quarter. Assetmark Inc. now owns 1,947 shares of the company’s stock worth $118,000 after purchasing an additional 682 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Up 0.3 %

Shares of BellRing Brands stock opened at $72.89 on Thursday. The business has a 50 day moving average of $75.12 and a 200 day moving average of $64.06. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90. The company has a market cap of $9.39 billion, a PE ratio of 38.98, a P/E/G ratio of 2.59 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, research analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

BRBR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial lifted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Citigroup upped their price objective on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Bank of America lifted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

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.