Argent Capital Management LLC Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Argent Capital Management LLC reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 96.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,313 shares of the company’s stock after selling 718,632 shares during the period. Argent Capital Management LLC’s holdings in BellRing Brands were worth $1,598,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BRBR. D. E. Shaw & Co. Inc. grew its holdings in shares of BellRing Brands by 135.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after purchasing an additional 847,161 shares in the last quarter. Vanguard Group Inc. lifted its stake in BellRing Brands by 5.3% in the first 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 during the last quarter. Squarepoint Ops LLC lifted its stake in shares of BellRing Brands by 665.2% during the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after acquiring an additional 545,371 shares during the last quarter. Point72 Asset Management L.P. increased its stake in BellRing Brands by 23.3% in the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after purchasing an additional 402,666 shares during the period. Finally, Renaissance Technologies LLC grew its stake in BellRing Brands by 47.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock worth $69,885,000 after acquiring an additional 393,262 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock traded down $0.40 during trading on Thursday, hitting $64.85. The company’s stock had a trading volume of 79,744 shares, compared to its average volume of 1,226,761. BellRing Brands, Inc. has a 1-year low of $42.71 and a 1-year high of $67.12. The stock’s fifty day moving average is $59.65 and its 200 day moving average is $57.18. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 45.22, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced 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. The company had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. BellRing Brands’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. On average, research analysts anticipate that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BRBR has been the topic of several research reports. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. reduced their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial raised their target price on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Three investment 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 has an average rating of “Moderate Buy” and a consensus price target of $65.71.

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.