Cinctive Capital Management LP Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Cinctive Capital Management LP purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) during the third quarter, Holdings Channel.com reports. The firm purchased 53,165 shares of the company’s stock, valued at approximately $3,228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in BellRing Brands during the second quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new stake in shares of BellRing Brands during the third quarter valued at about $31,000. Farther Finance Advisors LLC boosted its holdings in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands in the 3rd quarter valued at about $44,000. Finally, Quarry LP grew its position in shares of BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

NYSE:BRBR opened at $77.62 on Tuesday. The company’s fifty day moving average price is $67.46 and its 200-day moving average price is $59.99. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $79.90. The firm has a market capitalization of $10.00 billion, a P/E ratio of 41.51, a PEG ratio of 2.63 and a beta of 0.84.

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

Analyst Ratings Changes

Several brokerages have weighed in on BRBR. Barclays raised their target price on shares of BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America raised their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Stephens upped their target price on BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Truist Financial increased their price target on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.60.

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.