Central Pacific Bank Trust Division Sells 3,009 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Central Pacific Bank Trust Division cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,273 shares of the company’s stock after selling 3,009 shares during the quarter. Central Pacific Bank Trust Division’s holdings in BellRing Brands were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Everence Capital Management Inc. bought a new position in BellRing Brands in the fourth quarter valued at $235,000. GAMMA Investing LLC boosted its stake in shares of BellRing Brands by 134.5% during the 4th quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $156,000 after buying an additional 1,184 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after acquiring an additional 380,216 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of BellRing Brands in the third quarter valued at about $338,000. Finally, Sanctuary Advisors LLC bought a new stake in BellRing Brands during the third quarter worth about $439,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

BRBR stock opened at $75.20 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 2.59 and a beta of 0.86. The business’s fifty day moving average price is $74.11 and its two-hundred day moving average price is $63.07.

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

Analyst Ratings Changes

A number of research analysts have weighed in on BRBR shares. Evercore ISI raised their price target on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Citigroup boosted their target price on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Truist Financial increased their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Bank of America raised their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.60.

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.