BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Summit Global Investments

Summit Global Investments boosted its stake in BellRing Brands, Inc. (NYSE:BRBR) by 264.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,338 shares of the company’s stock after acquiring an additional 23,468 shares during the period. Summit Global Investments’ holdings in BellRing Brands were worth $1,964,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands in the second quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in shares of BellRing Brands during the third quarter worth $31,000. Farther Finance Advisors LLC raised its holdings in shares of BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares during the period. Quarry LP raised its holdings in shares of BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 615 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRBR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Bank of America upped their price target on shares of BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays upped their price target on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI increased their target price on shares of BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.14.

BellRing Brands Trading Up 2.6 %

Shares of BellRing Brands stock opened at $70.70 on Friday. The company’s fifty day simple moving average is $62.05 and its 200-day simple moving average is $58.02. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 42.34, a PEG ratio of 1.58 and a beta of 0.84. BellRing Brands, Inc. has a 1 year low of $44.37 and a 1 year high of $71.14.

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.