Paloma Partners Management Co Has $3.04 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Paloma Partners Management Co reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 54.3% in the 3rd quarter, Holdings Channel reports. The firm owned 50,000 shares of the company’s stock after selling 59,320 shares during the quarter. Paloma Partners Management Co’s holdings in BellRing Brands were worth $3,036,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BellRing Brands in the 3rd quarter worth about $420,000. Wasatch Advisors LP raised its position in shares of BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares during the period. Point72 Europe London LLP acquired a new stake in BellRing Brands in the 3rd quarter valued at $10,540,000. Verition Fund Management LLC raised its holdings in BellRing Brands by 179.1% during 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. Finally, Captrust Financial Advisors lifted its stake in shares of BellRing Brands by 45.5% in the third quarter. Captrust Financial Advisors now owns 175,203 shares of the company’s stock valued at $10,638,000 after buying an additional 54,804 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 1.7 %

NYSE BRBR opened at $78.46 on Monday. The company has a market cap of $10.10 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $79.90. The firm’s 50-day simple moving average is $67.46 and its two-hundred day simple moving average is $59.99.

BellRing Brands (NYSE:BRBR) last announced 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. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. During the same period in the prior year, the company posted $0.41 EPS. BellRing Brands’s revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BRBR shares. Barclays raised their target price on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reduced their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Evercore ISI increased their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, DA Davidson restated a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.