Summit Global Investments Acquires 23,468 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Summit Global Investments increased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 264.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,338 shares of the company's stock after buying an additional 23,468 shares during the period. Summit Global Investments' holdings in BellRing Brands were worth $1,964,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BRBR. SG Americas Securities LLC increased its stake in BellRing Brands by 1,007.4% during the 1st quarter. SG Americas Securities LLC now owns 68,349 shares of the company's stock valued at $4,035,000 after purchasing an additional 62,177 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company's stock valued at $138,482,000 after purchasing an additional 86,992 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in BellRing Brands by 186.5% during the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company's stock valued at $2,551,000 after purchasing an additional 29,060 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in BellRing Brands during the first quarter valued at about $1,021,000. Finally, Federated Hermes Inc. increased its position in shares of BellRing Brands by 28.0% during the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company's stock valued at $27,094,000 after buying an additional 103,604 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRBR has been the topic of several research analyst reports. Barclays upped their price objective on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday. Evercore ISI raised their price target on BellRing Brands from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on BellRing Brands from $67.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, July 25th. Stephens restated an "equal weight" rating and set a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Bank of America lifted their price objective on BellRing Brands from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.14.

BellRing Brands Price Performance

Shares of NYSE:BRBR traded up $1.80 during mid-day trading on Friday, reaching $70.69. 967,501 shares of the company traded hands, compared to its average volume of 805,944. The company's 50 day moving average price is $62.35 and its 200-day moving average price is $58.13. The firm has a market cap of $9.14 billion, a PE ratio of 42.33, a PEG ratio of 1.59 and a beta of 0.84. BellRing Brands, Inc. has a 52 week low of $44.37 and a 52 week high of $71.14.

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.