BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lowered its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 29.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,758 shares of the company's stock after selling 23,377 shares during the period. Iridian Asset Management LLC CT's holdings in BellRing Brands were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BRBR. Vanguard Personalized Indexing Management LLC increased its stake in BellRing Brands by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company's stock worth $540,000 after buying an additional 242 shares during the period. Hanseatic Management Services Inc. raised its stake in shares of BellRing Brands by 1.8% during the second quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company's stock valued at $828,000 after acquiring an additional 263 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of BellRing Brands by 3.8% in the first quarter. Bessemer Group Inc. now owns 7,459 shares of the company's stock valued at $440,000 after purchasing an additional 276 shares during the period. Fifth Third Bancorp grew its stake in BellRing Brands by 51.4% in the second 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. Finally, Quarry LP increased its holdings 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 purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of BRBR stock traded down $0.98 on Thursday, reaching $65.83. 970,404 shares of the company were exchanged, compared to its average volume of 1,219,529. BellRing Brands, Inc. has a 1 year low of $43.32 and a 1 year high of $67.12. The business has a 50-day moving average price of $60.88 and a 200 day moving average price of $57.56. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 45.72, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 88.30% and a net margin of 11.55%. The firm had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. During the same period in the prior year, the company earned $0.34 EPS. The firm's revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI raised their price target on BellRing Brands from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Bank of America increased their target price on BellRing Brands from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Barclays upped their price objective on BellRing Brands from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Truist Financial increased their price objective on BellRing Brands from $50.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.