Renaissance Technologies LLC Buys 393,262 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Renaissance Technologies LLC raised its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 47.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,223,040 shares of the company’s stock after acquiring an additional 393,262 shares during the quarter. Renaissance Technologies LLC owned approximately 0.94% of BellRing Brands worth $69,885,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRBR. Hanseatic Management Services Inc. lifted its position in BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock worth $828,000 after buying an additional 263 shares in the last quarter. Bessemer Group Inc. lifted its position in BellRing Brands by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after buying an additional 276 shares in the last quarter. Parallel Advisors LLC lifted its position in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares in the last quarter. Fifth Third Bancorp lifted its position in BellRing Brands by 51.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after buying an additional 374 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in BellRing Brands during the 2nd quarter worth about $28,000. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Up 1.2 %

NYSE:BRBR opened at $59.14 on Tuesday. BellRing Brands, Inc. has a twelve month low of $39.90 and a twelve month high of $62.76. The business has a 50 day moving average price of $54.12 and a two-hundred day moving average price of $56.63. The company has a market cap of $7.71 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. 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, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $62.64.

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.