Paloma Partners Management Co Cuts Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Paloma Partners Management Co reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 54.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 59,320 shares during the period. Paloma Partners Management Co's holdings in BellRing Brands were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of BellRing Brands in the second quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of BellRing Brands during the 3rd quarter valued at $31,000. Farther Finance Advisors LLC grew its holdings in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock worth $41,000 after purchasing an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of BellRing Brands in the third quarter worth $44,000. Finally, Quarry LP raised its stake in 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. 94.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRBR has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, November 20th. Citigroup raised their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Barclays increased their price target on BellRing Brands from $74.00 to $79.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Mizuho raised their target price on BellRing Brands from $72.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, Bank of America boosted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.60.

BellRing Brands Price Performance

BellRing Brands stock traded down $0.67 during mid-day trading on Monday, reaching $77.79. The stock had a trading volume of 283,986 shares, compared to its average volume of 1,203,320. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.63 and a beta of 0.84. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The company has a 50-day moving average price of $67.46 and a two-hundred day moving average price of $59.99.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $555.80 million for the quarter, compared to analysts' expectations of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The business's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

BellRing Brands 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.