Creative Planning Decreases Position in BellRing Brands, Inc. (NYSE:BRBR)

Creative Planning reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 39.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,320 shares of the company's stock after selling 8,801 shares during the quarter. Creative Planning's holdings in BellRing Brands were worth $809,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BRBR. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands in the 2nd quarter worth $28,000. Quarry LP increased its stake in shares of BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company's stock worth $55,000 after purchasing an additional 378 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 615 shares during the last quarter. Fifth Third Bancorp raised its position in shares of 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 during the last quarter. Finally, Summit Securities Group LLC purchased a new position in BellRing Brands in the 2nd quarter valued at about $80,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BRBR. Bank of America increased their price objective on BellRing Brands from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of BellRing Brands from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of BellRing Brands from $67.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, July 25th. Stephens reiterated an "equal weight" rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Evercore ISI raised their target price 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.71.

BellRing Brands Trading Up 1.3 %

BRBR stock traded up $0.86 during midday trading on Friday, hitting $66.69. 878,162 shares of the company's stock were exchanged, compared to its average volume of 807,918. BellRing Brands, Inc. has a 1-year low of $44.22 and a 1-year high of $67.53. The stock has a market capitalization of $8.62 billion, a PE ratio of 39.93, a P/E/G ratio of 1.54 and a beta of 0.84. The business has a 50-day simple moving average of $61.10 and a two-hundred day simple moving average of $57.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.10. The firm had revenue of $515.40 million during 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 period last year, the company earned $0.34 EPS. As a group, research analysts expect that BellRing Brands, Inc. will post 1.9 EPS 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.