Advisors Preferred LLC Takes $10.54 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Advisors Preferred LLC acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, Holdings Channel.com reports. The fund acquired 141,328 shares of the company’s stock, valued at approximately $10,542,000. BellRing Brands accounts for approximately 1.7% of Advisors Preferred LLC’s holdings, making the stock its 11th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Braun Stacey Associates Inc. purchased a new stake in shares of BellRing Brands in the third quarter worth $18,680,000. Charles Schwab Investment Management Inc. raised its holdings in shares of BellRing Brands by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after acquiring an additional 333,287 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of BellRing Brands by 152.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock valued at $1,264,000 after acquiring an additional 10,117 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of BellRing Brands during the third quarter worth about $672,000. Finally, Empowered Funds LLC increased its position in shares of BellRing Brands by 151.4% in the third quarter. Empowered Funds LLC now owns 69,844 shares of the company’s stock worth $4,241,000 after purchasing an additional 42,059 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

NYSE BRBR opened at $76.49 on Friday. The stock has a market capitalization of $9.85 billion, a PE ratio of 40.90, a PEG ratio of 2.61 and a beta of 0.86. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The business’s 50-day moving average is $75.94 and its 200 day moving average is $66.38.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. As a group, equities research analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Truist Financial upped their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. TD Cowen raised their price target on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their target price on BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.87.

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.