Assenagon Asset Management S.A. Raises Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Assenagon Asset Management S.A. grew its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 200.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 992,585 shares of the company's stock after acquiring an additional 661,774 shares during the quarter. Assenagon Asset Management S.A. owned about 0.77% of BellRing Brands worth $74,781,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BRBR. V Square Quantitative Management LLC bought a new stake in BellRing Brands during the third quarter worth about $31,000. Farther Finance Advisors LLC boosted its stake in BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock worth $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new position in BellRing Brands during the third quarter valued at approximately $44,000. Quarry LP raised its stake in shares of BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company's stock worth $55,000 after acquiring an additional 378 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of BellRing Brands by 53.9% in the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the company's stock worth $118,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded up $0.49 during midday trading on Thursday, reaching $73.29. 914,565 shares of the company's stock traded hands, compared to its average volume of 1,087,947. The stock has a 50 day moving average of $75.22 and a 200-day moving average of $64.12. The company has a market cap of $9.44 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.39 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 - Get Free Report) last announced its earnings results on Monday, November 18th. The company reported $0.51 earnings per share 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 firm 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 firm posted $0.41 EPS. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BRBR has been the topic of several recent research reports. Barclays increased their target price on shares of BellRing Brands from $74.00 to $79.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. DA Davidson reaffirmed a "neutral" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, November 19th. Truist Financial lifted their price objective on BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, November 20th. Bank of America increased their target price on BellRing Brands from $75.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.67.

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.