Seven Eight Capital LP Has $3.21 Million Stake in BellRing Brands, Inc. (NYSE:BRBR)

Seven Eight Capital LP raised its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 58.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,253 shares of the company’s stock after acquiring an additional 20,729 shares during the quarter. Seven Eight Capital LP’s holdings in BellRing Brands were worth $3,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BRBR. Norges Bank acquired a new stake in BellRing Brands in the 4th quarter valued at $91,936,000. Franklin Resources Inc. boosted its holdings in BellRing Brands by 60.3% during the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after purchasing an additional 1,379,138 shares during the last quarter. Vanguard Group Inc. grew its position in BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after purchasing an additional 698,121 shares in the last quarter. Principal Financial Group Inc. increased its stake in BellRing Brands by 87.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after buying an additional 506,895 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of BellRing Brands by 47.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock worth $69,885,000 after buying an additional 393,262 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BRBR shares. Deutsche Bank Aktiengesellschaft reduced their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Stephens reaffirmed an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on 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, Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.64.

BellRing Brands Stock Up 0.7 %

NYSE BRBR opened at $59.57 on Wednesday. The firm has a market cap of $7.77 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The company’s 50 day moving average is $54.21 and its 200-day moving average is $56.63. BellRing Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $62.76.

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