Verition Fund Management LLC Buys 296,397 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Verition Fund Management LLC increased its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 179.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,864 shares of the company's stock after purchasing an additional 296,397 shares during the period. Verition Fund Management LLC owned approximately 0.36% of BellRing Brands worth $28,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in BellRing Brands in the second quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in BellRing Brands in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC raised its position in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock valued at $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands during the 3rd quarter worth approximately $44,000. Finally, Quarry LP boosted its position in shares of BellRing Brands by 65.3% during the 2nd 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. Institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of research reports. Jefferies Financial Group upped their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Stephens boosted their price objective on shares of BellRing Brands from $61.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. 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, DA Davidson reissued a "neutral" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.60.

BellRing Brands Stock Performance

NYSE:BRBR traded up $1.30 during trading hours on Friday, reaching $78.46. The company's stock had a trading volume of 416,559 shares, compared to its average volume of 1,207,365. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.59 and a beta of 0.84. The firm has a 50-day simple moving average of $67.46 and a 200-day simple moving average of $59.98. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $79.90.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to analysts' expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands's quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Equities analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

BellRing Brands Company 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.