Edgestream Partners L.P. Has $9.64 Million Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Edgestream Partners L.P. boosted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,710 shares of the company’s stock after acquiring an additional 15,359 shares during the period. BellRing Brands makes up approximately 0.5% of Edgestream Partners L.P.’s holdings, making the stock its 16th largest holding. Edgestream Partners L.P.’s holdings in BellRing Brands were worth $9,640,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after purchasing an additional 698,121 shares during the period. Franklin Resources Inc. boosted its stake in BellRing Brands by 60.3% during the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after buying an additional 1,379,138 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in BellRing Brands by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after buying an additional 86,992 shares during the period. Norges Bank acquired a new position in shares of BellRing Brands in the 4th quarter valued at $91,936,000. Finally, Renaissance Technologies LLC raised its stake in shares of BellRing Brands by 47.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock valued at $69,885,000 after buying an additional 393,262 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BRBR. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Stephens reiterated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.64.

BellRing Brands Stock Performance

Shares of BRBR opened at $59.14 on Tuesday. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 41.07, a PEG ratio of 1.51 and a beta of 0.85. The stock has a fifty day moving average price of $54.12 and a two-hundred day moving average price of $56.63. BellRing Brands, Inc. has a 52-week low of $39.90 and a 52-week high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. As a group, research analysts predict that BellRing Brands, Inc. will post 1.9 EPS 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.