Mediolanum International Funds Ltd Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Mediolanum International Funds Ltd purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 182,694 shares of the company's stock, valued at approximately $11,146,000. Mediolanum International Funds Ltd owned about 0.14% of BellRing Brands as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BRBR. State of Michigan Retirement System increased its stake in shares of BellRing Brands by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 32,145 shares of the company's stock worth $1,898,000 after purchasing an additional 600 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of BellRing Brands in the first quarter valued at $524,000. Fortis Group Advisors LLC bought a new stake in shares of BellRing Brands in the first quarter valued at $609,000. SeaBridge Investment Advisors LLC lifted its position in shares of BellRing Brands by 13.7% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 27,079 shares of the company's stock valued at $1,598,000 after buying an additional 3,263 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in BellRing Brands by 1.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,791 shares of the company's stock valued at $4,238,000 after buying an additional 893 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 0.9 %

Shares of NYSE BRBR traded down $0.59 on Friday, reaching $64.48. 819,247 shares of the company's stock traded hands, compared to its average volume of 1,227,189. BellRing Brands, Inc. has a 12 month low of $42.71 and a 12 month high of $67.12. The business's 50 day simple moving average is $60.04 and its two-hundred day simple moving average is $57.29. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm's revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts forecast that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. 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 report on Thursday, July 25th. Barclays raised their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Truist Financial lifted their price target on BellRing Brands from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.71.

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.