Oppenheimer Asset Management Inc. Raises Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Oppenheimer Asset Management Inc. grew its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,090 shares of the company's stock after buying an additional 7,388 shares during the period. Oppenheimer Asset Management Inc.'s holdings in BellRing Brands were worth $2,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands in the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in BellRing Brands during the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its position in BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock valued at $41,000 after buying an additional 474 shares in the last quarter. Quarry LP raised its stake in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company's stock valued at $55,000 after buying an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company's stock worth $56,000 after acquiring an additional 615 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

BRBR traded down $0.38 during trading on Friday, reaching $72.09. 1,117,386 shares of the company traded hands, compared to its average volume of 1,201,172. BellRing Brands, Inc. has a 12-month low of $44.37 and a 12-month high of $73.27. The firm has a fifty day simple moving average of $63.93 and a 200 day simple moving average of $58.68. The company has a market cap of $9.32 billion, a P/E ratio of 43.17, a PEG ratio of 1.63 and a beta of 0.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BRBR shares. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of BellRing Brands from $67.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, July 25th. Stephens restated an "equal weight" rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Evercore ISI increased their target price on BellRing Brands from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Bank of America boosted their price target on BellRing Brands from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.33.

BellRing Brands Company Profile

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.