JPMorgan Chase & Co. Has $33.58 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

JPMorgan Chase & Co. trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 552,944 shares of the company’s stock after selling 104,663 shares during the period. JPMorgan Chase & Co.’s holdings in BellRing Brands were worth $33,575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System lifted its holdings in BellRing Brands by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 36,668 shares of the company’s stock valued at $2,095,000 after purchasing an additional 620 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of BellRing Brands during the 2nd quarter worth about $188,000. Prudential PLC boosted its holdings in shares of BellRing Brands by 3.0% during the 2nd quarter. Prudential PLC now owns 103,356 shares of the company’s stock worth $5,906,000 after buying an additional 3,044 shares during the period. Daiwa Securities Group Inc. acquired a new position in BellRing Brands in the 2nd quarter valued at about $206,000. Finally, Headlands Technologies LLC raised its holdings in BellRing Brands by 200.0% in the 2nd quarter. Headlands Technologies LLC now owns 6,949 shares of the company’s stock valued at $397,000 after acquiring an additional 4,633 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Down 3.1 %

BRBR stock opened at $72.89 on Tuesday. The company’s 50-day moving average price is $74.48 and its two-hundred day moving average price is $63.44. The firm has a market cap of $9.39 billion, a P/E ratio of 38.98, a P/E/G ratio of 2.59 and a beta of 0.86. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $79.90.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. During the same period last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities analysts predict that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BRBR shares. Deutsche Bank Aktiengesellschaft boosted their price objective on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Evercore ISI boosted 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. DA Davidson reiterated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, November 19th. Bank of America lifted their target price on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Mizuho upped their price target on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.60.

BellRing Brands 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.