Bridgewater Associates LP Sells 168,250 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Bridgewater Associates LP trimmed its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 82.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,262 shares of the company's stock after selling 168,250 shares during the quarter. Bridgewater Associates LP's holdings in BellRing Brands were worth $2,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BRBR. Braun Stacey Associates Inc. bought a new position in shares of BellRing Brands in the 3rd quarter worth about $18,680,000. Dimensional Fund Advisors LP raised its stake 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 buying an additional 86,992 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in BellRing Brands by 186.5% in the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company's stock worth $2,551,000 after acquiring an additional 29,060 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of BellRing Brands by 28.0% in the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company's stock worth $27,094,000 after acquiring an additional 103,604 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of BellRing Brands by 72.3% during the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company's stock valued at $30,419,000 after acquiring an additional 223,430 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Price Performance

Shares of NYSE BRBR traded up $1.30 during mid-day trading on Friday, reaching $78.46. The company's stock had a trading volume of 416,559 shares, compared to its average volume of 1,058,253. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90. The stock has a fifty day moving average of $67.46 and a two-hundred day moving average of $59.98. The firm has a market capitalization of $10.10 billion, a PE ratio of 41.96, a P/E/G ratio of 2.63 and a beta of 0.84.

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

Analyst Ratings Changes

A number of research firms have recently commented on BRBR. Stephens increased their price target on shares of BellRing Brands from $61.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, November 25th. Mizuho increased their target price on BellRing Brands from $72.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Barclays boosted their target price on BellRing Brands from $74.00 to $79.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.60.

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.