PDT Partners LLC Sells 28,444 Shares of BellRing Brands, Inc. (NYSE:BRBR)

PDT Partners LLC reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 59.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,159 shares of the company's stock after selling 28,444 shares during the period. PDT Partners LLC's holdings in BellRing Brands were worth $1,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BRBR. Verition Fund Management LLC increased its holdings in BellRing Brands by 179.1% in the third quarter. Verition Fund Management LLC now owns 461,864 shares of the company's stock worth $28,044,000 after buying an additional 296,397 shares during the last quarter. Captrust Financial Advisors grew its position in BellRing Brands by 45.5% in the third quarter. Captrust Financial Advisors now owns 175,203 shares of the company's stock worth $10,638,000 after acquiring an additional 54,804 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of BellRing Brands during the 3rd quarter worth $584,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of BellRing Brands by 121.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 22,463 shares of the company's stock valued at $1,364,000 after purchasing an additional 12,311 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of BellRing Brands in the 3rd quarter valued at $1,947,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 1.1 %

BRBR traded down $0.84 during trading on Monday, reaching $77.62. 1,295,759 shares of the company's stock were exchanged, compared to its average volume of 1,207,761. The company has a market capitalization of $10.00 billion, a P/E ratio of 41.51, a PEG ratio of 2.63 and a beta of 0.84. The business has a 50 day moving average price of $67.46 and a 200 day moving average price of $59.99. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90.

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

Wall Street Analysts Forecast Growth

BRBR has been the subject of a number of analyst reports. Truist Financial boosted their price target on BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a research report on Wednesday, November 20th. Bank of America boosted their target price on BellRing Brands from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. DA Davidson reiterated a "neutral" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of BellRing Brands from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BellRing Brands currently has an average rating of "Moderate Buy" and a consensus target price of $75.60.

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.