Research analysts at Truist Financial lowered their price target for BellRing Brands (NYSE:BRBR) from $30.00 to $25.00, as shown in a report on Monday. According to the price target set for Truist Financial, there is a potential upside of 11.36% from where the company was previously trading.
Several other analysts have provided recent comments on the stock. Mizuho raised its price target on BellRing Brands shares from $33.00 to $38.00 and pegged the stock at a “buy” rating in a research report released Monday, August 8. Morgan Stanley lowered its price target on BellRing Brands shares from $29.00 to $28.00 and gave the company an “overweight” rating in a research report released Friday, Oct. 14. Finally, in a research note released Tuesday, August 23, Citigroup reaffirmed a “buy” rating on BellRing Brands stock and set a target price of $35.00 for the company’s stock. Six financial market professionals recommend buying the stock, while one analyst recommends keeping the position you currently hold. According to Bloomberg.com, the general opinion on BellRing Brands is that it is a “Moderate Buy”, and the general opinion for its price target is $32.14.
On Monday, the price of a BellRing Brands share began trading at $22.45. The company’s simple moving average for the last 50 days is $23.11 and its simple moving average for the last 200 days is $24.09. The 1-year low for BellRing Brands is $20.20, while the 1-year high for the company is $29.09. The stock has a price/earnings ratio of 29.16, a growth price/earnings ratio of 1.23 and a beta value of 0.91. The market capitalization of the company is $3.06 billion.
Several institutional investors and hedge funds bought and sold BRBR shares. These transactions took place quite recently. For example, BlackRock Inc. increased its stake in BellRing Brands by 328.4% in the first three months of the year. BlackRock Inc. now owns 12,967,658 shares of the company, valued at $299,293,000 following the acquisition of an additional 9,940,436 shares during the period in question. Additionally, BellRing Brands benefited from a 164.4% increase in investment from Route One Investment Company LP during the first quarter. Following the acquisition of an additional 8,490,812 shares of the company during the period in question, Route One Investment Company LP currently holds a total of 13,656,803 shares of the company, valued at 315,200,000 $. During the first three months of the year, Vanguard Group Inc. increased its stake in BellRing Brands by 183.4%. Following the purchase of an additional 6,997,877 shares in the previous quarter, Vanguard Group Inc. now owns 10,814,461 shares of the company, valued at $249,598,000. In the first three months of 2018, JPMorgan Chase & Co. increased its stake in BellRing Brands by 394.7%. JPMorgan Chase & Co. now owns 5,865,380 shares of the company, valued at $135,373,000, following the purchase of 4,679,665 shares in the last quarter. These shares were purchased during the last quarter.
Last but not least, in the first three months of 2018, State Street Corporation increased its stake in BellRing Brands by 332.1%. Following the acquisition of 2,826,014 additional shares during the last quarter, State Street Corp. now owns 3,676,863 shares of the company, which are worth $84,862,000. Institutional investors own 81.45% of the company’s shares.
BellRing Brands, Inc. and its subsidiaries market a wide variety of nutritional products worldwide and sell these items in the United States. Its core business is the distribution of ready-to-drink protein shakes and protein powder products marketed under the Premier Protein and Dymatize names. The Company distributes its products through various distribution channels, such as convenience stores, club stores, grocery stores, drug stores, mass retailers, online retailers and specialty stores.