E. Ohman J or Asset Management AB Purchases Shares of 506,473 BellRing Brands, Inc. (NYSE:BRBR)

E. Ohman J or Asset Management AB purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 506,473 shares of the company's stock, valued at approximately $30,753,000. E. Ohman J or Asset Management AB owned about 0.39% of BellRing Brands as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BRBR. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the second quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new stake in shares of BellRing Brands during the 3rd quarter valued at approximately $31,000. Quarry LP grew its position in shares of BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company's stock valued at $55,000 after purchasing an additional 378 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company's stock valued at $56,000 after purchasing an additional 615 shares during the period. Finally, Fifth Third Bancorp lifted its holdings 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 purchasing an additional 374 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BRBR shares. JPMorgan Chase & Co. decreased their price target on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of BellRing Brands from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Evercore ISI upped their price target on shares of BellRing Brands from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Truist Financial upped their target price 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 given a buy rating to the company. According to MarketBeat, BellRing Brands has an average rating of "Moderate Buy" and an average price target of $65.71.

BellRing Brands Stock Performance

Shares of BRBR stock traded down $0.60 on Friday, hitting $64.47. 819,243 shares of the company's stock traded hands, compared to its average volume of 1,227,189. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.48 and a beta of 0.85. The company's fifty day simple moving average is $59.85 and its 200 day simple moving average is $57.24. BellRing Brands, Inc. has a one year low of $42.71 and a one year high of $67.12.

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

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.