BellRing Brands, Inc. (NYSE:BRBR) Short Interest Down 5.6% in August

BellRing Brands, Inc. (NYSE:BRBR) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,370,000 shares, a decline of 5.6% from the August 15th total of 2,510,000 shares. Based on an average trading volume of 1,500,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Stephens restated an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.64.

Institutional Trading of BellRing Brands

Several institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands during the second quarter valued at $28,000. Rise Advisors LLC purchased a new stake in shares of BellRing Brands during the first quarter valued at $32,000. Parallel Advisors LLC lifted its holdings in shares of BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after purchasing an additional 361 shares during the last quarter. Quarry LP lifted its holdings in shares of 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after purchasing an additional 615 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $59.57 on Wednesday. BellRing Brands has a 1 year low of $39.90 and a 1 year high of $62.76. The stock has a fifty day moving average of $54.21 and a two-hundred day moving average of $56.63. The firm has a market capitalization of $7.77 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities research analysts predict that BellRing Brands will post 1.9 earnings per share for the current fiscal year.

About BellRing Brands

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.