JPMorgan Chase & Co. Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

JPMorgan Chase & Co. lowered its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,944 shares of the company's stock after selling 104,663 shares during the period. JPMorgan Chase & Co. owned about 0.43% of BellRing Brands worth $33,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in shares of BellRing Brands during the third quarter worth $31,000. Farther Finance Advisors LLC boosted its position in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock worth $41,000 after acquiring an additional 474 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of BellRing Brands in the 3rd quarter valued at about $44,000. Quarry LP raised its position in shares of 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 in the last quarter. Finally, Assetmark Inc. lifted its stake in BellRing Brands by 53.9% during the third quarter. Assetmark Inc. now owns 1,947 shares of the company's stock worth $118,000 after purchasing an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. DA Davidson reiterated a "neutral" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, November 19th. Jefferies Financial Group lifted their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Barclays boosted their price target on shares of BellRing Brands from $74.00 to $79.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. 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 report on Wednesday, November 20th. Finally, Mizuho upped their target price on BellRing Brands from $72.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.60.

BellRing Brands Stock Performance

BellRing Brands stock traded down $0.38 during trading hours on Tuesday, reaching $72.48. 1,126,142 shares of the stock were exchanged, compared to its average volume of 1,023,560. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $79.90. The stock has a market cap of $9.33 billion, a P/E ratio of 38.76, a P/E/G ratio of 2.59 and a beta of 0.86. The firm's 50 day moving average is $74.48 and its 200 day moving average is $63.44.

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