BellRing Brands (NYSE:BRBR) Reaches New 1-Year High – What’s Next?

BellRing Brands, Inc. (NYSE:BRBR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.83 and last traded at $72.36, with a volume of 47066 shares traded. The stock had previously closed at $71.78.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BRBR. Barclays increased their price target on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Stephens restated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Evercore ISI increased their price objective on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Jefferies Financial Group increased their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.33.

BellRing Brands Stock Up 0.5 %

The stock has a 50 day simple moving average of $63.30 and a two-hundred day simple moving average of $58.48. The stock has a market capitalization of $9.37 billion, a P/E ratio of 43.40, a P/E/G ratio of 1.62 and a beta of 0.84.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in BellRing Brands in the third quarter valued at approximately $420,000. Wasatch Advisors LP lifted its position in shares of BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after buying an additional 494,669 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of BellRing Brands in the third quarter valued at approximately $10,540,000. Verition Fund Management LLC lifted its position in shares of BellRing Brands by 179.1% in the third quarter. Verition Fund Management LLC now owns 461,864 shares of the company’s stock valued at $28,044,000 after buying an additional 296,397 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of BellRing Brands by 45.5% in the third quarter. Captrust Financial Advisors now owns 175,203 shares of the company’s stock valued at $10,638,000 after buying an additional 54,804 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

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.