Entropy Technologies LP Purchases Shares of 23,777 BellRing Brands, Inc. (NYSE:BRBR)

Entropy Technologies LP acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,777 shares of the company’s stock, valued at approximately $1,444,000.

A number of other hedge funds have also modified their holdings of BRBR. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands in the 2nd quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in shares of BellRing Brands in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC increased its position in shares of BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after acquiring an additional 474 shares during the last quarter. Quarry LP increased its position in shares of 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 acquiring an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in BellRing Brands by 165.3% during 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BRBR shares. Evercore ISI boosted their price target on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays boosted their target price on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Stephens reiterated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Truist Financial boosted their price objective on shares of BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.14.

BellRing Brands Stock Up 0.6 %

Shares of NYSE:BRBR opened at $71.78 on Wednesday. BellRing Brands, Inc. has a 12-month low of $44.37 and a 12-month high of $72.00. The business has a 50 day moving average of $62.66 and a 200-day moving average of $58.27. The stock has a market cap of $9.28 billion, a PE ratio of 42.98, a P/E/G ratio of 1.65 and a beta of 0.84.

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.