Carnegie Investment Counsel Sells 750 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Carnegie Investment Counsel lessened its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,917 shares of the company’s stock after selling 750 shares during the quarter. Carnegie Investment Counsel’s holdings in BellRing Brands were worth $4,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Braun Stacey Associates Inc. bought a new position in shares of BellRing Brands in the third quarter valued at approximately $18,680,000. Dimensional Fund Advisors LP boosted its position in shares of BellRing Brands by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after acquiring an additional 86,992 shares during the period. AQR Capital Management LLC boosted its position in shares of BellRing Brands by 72.3% in the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock valued at $30,419,000 after acquiring an additional 223,430 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of BellRing Brands by 35.7% in the third 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 during the period. Finally, Banco Santander S.A. bought a new position in shares of BellRing Brands in the third quarter valued at approximately $672,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Down 1.2 %

Shares of NYSE BRBR opened at $72.37 on Friday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90. The firm’s fifty day moving average is $75.31 and its 200 day moving average is $64.19. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.39 and a beta of 0.86.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRBR shares. Bank of America lifted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” 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 company a “buy” rating in a research report on Wednesday, November 20th. Stifel Nicolaus lifted their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI lifted their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group lifted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

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.