Somerset Trust Co Buys New Position in BellRing Brands, Inc. (NYSE:BRBR)

Somerset Trust Co purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,700 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BRBR. Envestnet Asset Management Inc. increased its stake in BellRing Brands by 33.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 203,732 shares of the company’s stock worth $11,641,000 after buying an additional 51,498 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of BellRing Brands in the second quarter worth $1,000,000. Dimensional Fund Advisors LP increased its position in shares of BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after acquiring an additional 86,992 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of BellRing Brands by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after acquiring an additional 242 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of BellRing Brands by 316.6% in the second quarter. XTX Topco Ltd now owns 32,215 shares of the company’s stock valued at $1,841,000 after acquiring an additional 24,482 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup upped their price target on BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. DA Davidson restated a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Truist Financial raised their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Evercore ISI boosted their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Mizuho raised their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

BellRing Brands Stock Performance

BRBR opened at $72.37 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The stock has a market capitalization of $9.32 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86. The business’s 50-day simple moving average is $75.31 and its 200-day simple moving average is $64.19.

BellRing Brands (NYSE:BRBR) last released its quarterly 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 negative return on equity of 103.89% and a net margin of 12.35%. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts forecast that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal year.

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.