BellRing Brands, Inc. (NYSE:BRBR) Position Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 32.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 807,759 shares of the company's stock after selling 394,750 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.63% of BellRing Brands worth $49,047,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in shares of BellRing Brands by 125.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,100 shares of the company's stock worth $492,000 after purchasing an additional 4,500 shares during the last quarter. Algert Global LLC lifted its holdings in BellRing Brands by 12.6% during the 3rd quarter. Algert Global LLC now owns 319,690 shares of the company's stock worth $19,412,000 after buying an additional 35,774 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of BellRing Brands in the 3rd quarter worth approximately $30,699,000. Citigroup Inc. increased its holdings in shares of BellRing Brands by 26.6% in the 3rd quarter. Citigroup Inc. now owns 80,263 shares of the company's stock valued at $4,874,000 after acquiring an additional 16,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BellRing Brands by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company's stock valued at $76,949,000 after acquiring an additional 333,287 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRBR has been the subject of a number of research reports. Evercore ISI lifted their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Mizuho increased their price target on BellRing Brands from $72.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Barclays boosted their price objective on BellRing Brands from $74.00 to $79.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Finally, Truist Financial raised their target price on BellRing Brands from $60.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, November 20th. Three investment 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.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.60.

BellRing Brands Trading Up 2.3 %

Shares of NYSE BRBR traded up $1.77 during midday trading on Tuesday, reaching $78.79. The company's stock had a trading volume of 1,167,997 shares, compared to its average volume of 1,212,390. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 2.64 and a beta of 0.84. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The company has a 50 day moving average price of $66.39 and a 200 day moving average price of $59.61.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company's quarterly revenue was up 17.6% compared to the same quarter last year. Research 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.