BellRing Brands (NYSE:BRBR) Price Target Raised to $32.00 at Bank of America

BellRing Brands (NYSE:BRBR) had its price objective boosted by Bank of America from $28.00 to $32.00 in a report issued on Friday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other analysts also recently commented on BRBR. UBS Group reissued a “neutral” rating and issued a $34.00 price objective on shares of BellRing Brands in a research note on Friday, November 28th. JPMorgan Chase & Co. decreased their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Barclays dropped their price objective on BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Stifel Nicolaus reduced their target price on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Evercore ISI lowered their target price on shares of BellRing Brands from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

BellRing Brands Trading Down 1.1%

BRBR opened at $28.97 on Friday. BellRing Brands has a 1-year low of $22.45 and a 1-year high of $80.67. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 3.92 and a beta of 0.67. The company’s fifty day moving average price is $30.72 and its two-hundred day moving average price is $41.75.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Tuesday, November 18th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The business had revenue of $648.20 million for the quarter, compared to the consensus estimate of $633.21 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of BellRing Brands stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the sale, the insider directly owned 54,812 shares in the company, valued at $1,695,335.16. The trade was a 6.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.07% of the stock is owned by insiders.

Institutional Trading of BellRing Brands

A number of large investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC raised its position in BellRing Brands by 13.6% in the first quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock worth $105,000 after acquiring an additional 169 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of BellRing Brands by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,083 shares of the company’s stock worth $526,000 after purchasing an additional 200 shares during the last quarter. Shilanski & Associates Inc. raised its holdings in shares of BellRing Brands by 1.2% in the 2nd quarter. Shilanski & Associates Inc. now owns 23,218 shares of the company’s stock worth $1,345,000 after purchasing an additional 264 shares during the period. VestGen Investment Management lifted its stake in BellRing Brands by 5.0% in the second quarter. VestGen Investment Management now owns 6,080 shares of the company’s stock valued at $352,000 after purchasing an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in BellRing Brands by 149.8% in the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.