Entropy Technologies LP Buys Shares of 23,777 BellRing Brands, Inc. (NYSE:BRBR)

Entropy Technologies LP bought 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 & Exchange Commission. The fund bought 23,777 shares of the company's stock, valued at approximately $1,444,000.

Other hedge funds also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC lifted its stake in shares of BellRing Brands by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company's stock valued at $1,393,000 after purchasing an additional 181 shares during the period. Meritage Portfolio Management raised its position in shares of BellRing Brands by 11.6% in the third quarter. Meritage Portfolio Management now owns 21,021 shares of the company's stock worth $1,276,000 after acquiring an additional 2,185 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of BellRing Brands by 5.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,746 shares of the company's stock valued at $531,000 after acquiring an additional 429 shares during the period. Atria Investments Inc increased its stake in shares of BellRing Brands by 10.0% in the 3rd quarter. Atria Investments Inc now owns 10,227 shares of the company's stock valued at $621,000 after purchasing an additional 927 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in BellRing Brands by 53.9% in the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the company's stock worth $118,000 after purchasing an additional 682 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Up 1.1 %

Shares of BRBR traded up $0.82 during midday trading on Wednesday, reaching $72.60. The company had a trading volume of 455,867 shares, compared to its average volume of 1,200,747. The firm has a 50 day simple moving average of $62.98 and a 200-day simple moving average of $58.38. The stock has a market cap of $9.38 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.84. BellRing Brands, Inc. has a 1-year low of $44.37 and a 1-year high of $73.27.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BRBR shares. Deutsche Bank Aktiengesellschaft cut their price objective on BellRing Brands from $67.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. Barclays increased their price objective on shares of BellRing Brands from $68.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Evercore ISI boosted their target price on shares of BellRing Brands from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of BellRing Brands from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial boosted their price objective on BellRing Brands from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.14.

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.