Wellington Management Group LLP Buys 281,667 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Wellington Management Group LLP grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,756,722 shares of the company’s stock after purchasing an additional 281,667 shares during the quarter. Wellington Management Group LLP’s holdings in BellRing Brands were worth $167,388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&G Plc raised its position in BellRing Brands by 12.4% during the second quarter. M&G Plc now owns 157,181 shares of the company’s stock worth $8,959,000 after acquiring an additional 17,383 shares in the last quarter. Andina Capital Management LLC grew its holdings in BellRing Brands by 14.2% during the second quarter. Andina Capital Management LLC now owns 6,936 shares of the company’s stock worth $396,000 after purchasing an additional 862 shares during the period. Assenagon Asset Management S.A. increased its position in BellRing Brands by 1,006.0% during the second quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock worth $21,290,000 after buying an additional 338,903 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in BellRing Brands in the second quarter valued at approximately $222,000. Finally, Raymond James & Associates lifted its position in shares of BellRing Brands by 57.1% in the second quarter. Raymond James & Associates now owns 21,290 shares of the company’s stock valued at $1,217,000 after buying an additional 7,739 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BRBR opened at $77.94 on Monday. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $79.90. The firm has a market cap of $10.04 billion, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 2.59 and a beta of 0.86. The business’s fifty day moving average is $69.15 and its 200-day moving average is $60.69.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Mizuho increased their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus increased their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.60.

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.