BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,239,814 shares of the company's stock after selling 39,230 shares during the quarter. Geode Capital Management LLC owned approximately 1.73% of BellRing Brands worth $136,036,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in BellRing Brands in the second quarter valued at $222,000. Raymond James & Associates increased its position in BellRing Brands by 57.1% in the 2nd quarter. Raymond James & Associates now owns 21,290 shares of the company's stock valued at $1,217,000 after acquiring an additional 7,739 shares during the period. Summit Global Investments purchased a new stake in BellRing Brands during the 2nd quarter valued at approximately $507,000. Fifth Third Bancorp lifted its position in BellRing Brands by 51.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company's stock worth $63,000 after acquiring an additional 374 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of BellRing Brands in the 2nd quarter valued at approximately $250,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

BRBR has been the subject of several analyst reports. Stifel Nicolaus upped their price target on BellRing Brands from $67.00 to $81.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Citigroup increased their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Evercore ISI lifted their price objective on BellRing Brands from $70.00 to $78.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. 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 research 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, the company has an average rating of "Moderate Buy" and a consensus target price of $75.60.

BellRing Brands Trading Down 0.9 %

Shares of BellRing Brands stock traded down $0.69 during mid-day trading on Tuesday, hitting $77.24. 946,504 shares of the stock were exchanged, compared to its average volume of 1,195,297. The company has a 50-day simple moving average of $71.38 and a 200 day simple moving average of $61.64. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.86. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $79.90.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Equities research analysts forecast that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

BellRing Brands 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.