Empowered Funds LLC Increases Position in BellRing Brands, Inc. (NYSE:BRBR)

Empowered Funds LLC increased its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 151.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,844 shares of the company's stock after acquiring an additional 42,059 shares during the quarter. Empowered Funds LLC owned approximately 0.05% of BellRing Brands worth $4,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRBR. KBC Group NV raised its stake in shares of BellRing Brands by 14.1% during the 3rd quarter. KBC Group NV now owns 3,583 shares of the company's stock worth $218,000 after acquiring an additional 443 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in BellRing Brands by 17.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 49,090 shares of the company's stock worth $2,981,000 after buying an additional 7,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in BellRing Brands by 20.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,683 shares of the company's stock valued at $284,000 after buying an additional 800 shares in the last quarter. GSA Capital Partners LLP increased its position in BellRing Brands by 23.5% during the 3rd quarter. GSA Capital Partners LLP now owns 23,892 shares of the company's stock valued at $1,451,000 after buying an additional 4,552 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in BellRing Brands in the third quarter valued at about $1,444,000. 94.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BRBR. Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday. Barclays upped their price target on shares of BellRing Brands from $68.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Truist Financial lifted their price objective on shares of BellRing Brands from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Evercore ISI upped their target price on BellRing Brands from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price target on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.33.

BellRing Brands Trading Up 1.8 %

BellRing Brands stock traded up $1.32 during mid-day trading on Monday, hitting $73.41. The company had a trading volume of 1,821,869 shares, compared to its average volume of 1,203,911. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 1.61 and a beta of 0.84. BellRing Brands, Inc. has a 12-month low of $44.37 and a 12-month high of $73.45. The company's fifty day moving average is $63.93 and its 200-day moving average is $58.73.

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.