Connor Clark & Lunn Investment Management Ltd. Purchases New Position in BellRing Brands, Inc. (NYSE:BRBR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,163 shares of the company's stock, valued at approximately $1,346,000.

Several other large investors have also bought and sold shares of BRBR. BOKF NA raised its holdings in BellRing Brands by 229.2% in the 1st quarter. BOKF NA now owns 2,189 shares of the company's stock worth $130,000 after acquiring an additional 1,524 shares during the last quarter. Rokos Capital Management LLP purchased a new stake in shares of BellRing Brands during the first quarter valued at $10,090,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 615 shares in the last quarter. First Hawaiian Bank increased its holdings in BellRing Brands by 129.9% in the 2nd quarter. First Hawaiian Bank now owns 14,613 shares of the company's stock worth $835,000 after buying an additional 8,256 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in BellRing Brands in the 2nd quarter worth about $28,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho raised their target price on BellRing Brands from $72.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Bank of America raised their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Citigroup upped their target price on shares of BellRing Brands from $72.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Truist Financial lifted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on BellRing Brands from $74.00 to $79.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $75.60.

BellRing Brands Trading Down 2.1 %

Shares of NYSE:BRBR traded down $1.63 during midday trading on Wednesday, reaching $77.16. 847,690 shares of the company were exchanged, compared to its average volume of 1,209,236. The stock has a market cap of $9.97 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84. The business's fifty day moving average is $66.39 and its two-hundred day moving average is $59.61. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The firm had revenue of $555.80 million for the quarter, compared to analysts' expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business's revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 2.16 EPS for the current 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.