BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,710 shares of the company's stock after selling 31,770 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.12% of BellRing Brands worth $9,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRBR. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the 2nd quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in BellRing Brands during the 3rd quarter worth $31,000. Farther Finance Advisors LLC increased 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 worth $41,000 after buying an additional 474 shares during the period. Quarry LP increased its stake 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 buying an additional 378 shares during the period. Finally, GAMMA Investing LLC increased its stake in BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company's stock worth $56,000 after buying an additional 615 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded up $1.80 during midday trading on Friday, hitting $70.69. The company's stock had a trading volume of 967,501 shares, compared to its average volume of 1,207,368. BellRing Brands, Inc. has a 1-year low of $44.37 and a 1-year high of $71.14. The firm's fifty day moving average price is $62.05 and its 200-day moving average price is $58.02. The firm has a market cap of $9.14 billion, a P/E ratio of 42.33, a P/E/G ratio of 1.58 and a beta of 0.84.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. During the same period in the previous year, the business posted $0.34 EPS. The company's quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BRBR shares. Evercore ISI lifted their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Barclays boosted their target price on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday. Truist Financial boosted their target price on shares of BellRing Brands from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, Stephens reissued an "equal weight" rating and issued a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.