Citigroup Inc. Raises Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Citigroup Inc. increased its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,263 shares of the company's stock after buying an additional 16,887 shares during the quarter. Citigroup Inc. owned about 0.06% of BellRing Brands worth $4,874,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BRBR. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands in the second quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in BellRing Brands in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC lifted its stake in BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock valued at $41,000 after acquiring an additional 474 shares in the last quarter. Quarry LP boosted its holdings in 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 during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of BellRing Brands by 165.3% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company's stock worth $56,000 after acquiring an additional 615 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BRBR. Evercore ISI raised their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Barclays boosted their target price on BellRing Brands from $74.00 to $79.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Mizuho increased their price target on BellRing Brands from $72.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Truist Financial lifted their target price on BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.60.

BellRing Brands Stock Performance

BRBR stock traded down $0.73 during midday trading on Tuesday, reaching $76.90. 1,126,178 shares of the company's stock traded hands, compared to its average volume of 1,064,041. The firm has a market capitalization of $9.90 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.86. The company has a 50-day moving average price of $68.12 and a two-hundred day moving average price of $60.27. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $555.80 million for the quarter, compared to analysts' expectations of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm's quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts predict that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal year.

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.