Primecap Management Co. CA Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Primecap Management Co. CA bought a new stake in BellRing Brands, Inc. (NYSE:BRBR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 277,391 shares of the company’s stock, valued at approximately $16,843,000. Primecap Management Co. CA owned about 0.21% of BellRing Brands as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRBR. Chartwell Investment Partners LLC raised its stake in BellRing Brands by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock valued at $1,393,000 after acquiring an additional 181 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of BellRing Brands by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after buying an additional 242 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in BellRing Brands by 1.8% in 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 during the period. Bessemer Group Inc. grew its stake in BellRing Brands by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock valued at $440,000 after buying an additional 276 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in BellRing Brands by 51.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares during the period. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR opened at $78.60 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $78.68. The firm has a 50 day moving average price of $65.65 and a 200-day moving average price of $59.34. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, equities research analysts predict that BellRing Brands, Inc. will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

BRBR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup upped their price target on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho boosted their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stephens reissued an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $74.27.

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.