Oppenheimer Asset Management Inc. Increases Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Oppenheimer Asset Management Inc. increased its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,090 shares of the company’s stock after acquiring an additional 7,388 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BellRing Brands were worth $2,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after buying an additional 86,992 shares during the period. WINTON GROUP Ltd lifted its position in BellRing Brands by 186.5% during the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock valued at $2,551,000 after buying an additional 29,060 shares during the period. Federated Hermes Inc. lifted its position in BellRing Brands by 28.0% during the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock valued at $27,094,000 after buying an additional 103,604 shares during the period. AQR Capital Management LLC lifted its position in BellRing Brands by 72.3% during the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock valued at $30,419,000 after buying an additional 223,430 shares during the period. Finally, Natixis Advisors LLC lifted its position in BellRing Brands by 41.2% during the second quarter. Natixis Advisors LLC now owns 100,886 shares of the company’s stock valued at $5,765,000 after buying an additional 29,413 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BRBR shares. Jefferies Financial Group raised their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Bank of America raised their price target on BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Evercore ISI raised their price target on BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays raised their price target on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.33.

BellRing Brands Stock Performance

NYSE BRBR opened at $72.09 on Friday. BellRing Brands, Inc. has a one year low of $44.37 and a one year high of $73.27. The stock has a 50-day moving average of $63.61 and a 200 day moving average of $58.57. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 43.29, a PEG ratio of 1.63 and a beta of 0.84.

BellRing Brands Company 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.