BellRing Brands, Inc. (NYSE:BRBR) Short Interest Down 6.4% in December

BellRing Brands, Inc. (NYSE:BRBR) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,600,000 shares, a decline of 6.4% from the December 15th total of 1,710,000 shares. Based on an average daily volume of 949,600 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho raised their price objective on BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Citigroup raised their price target on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America upped their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. DA Davidson restated a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Finally, Evercore ISI upped their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.67.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in BellRing Brands by 33.8% during the second quarter. Envestnet Asset Management Inc. now owns 203,732 shares of the company’s stock worth $11,641,000 after acquiring an additional 51,498 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in BellRing Brands in the 2nd quarter valued at approximately $1,000,000. Dimensional Fund Advisors LP boosted its position in BellRing Brands by 3.7% in the second 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 in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of BellRing Brands by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock worth $540,000 after buying an additional 242 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of BellRing Brands by 316.6% during the second quarter. XTX Topco Ltd now owns 32,215 shares of the company’s stock worth $1,841,000 after buying an additional 24,482 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded down $0.86 during mid-day trading on Friday, reaching $72.37. The company had a trading volume of 959,756 shares, compared to its average volume of 774,575. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.39 and a beta of 0.86. The business’s 50-day simple moving average is $75.34 and its 200 day simple moving average is $64.32. BellRing Brands has a one year low of $48.06 and a one year high of $79.90.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. During the same period last year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BellRing Brands will post 2.16 EPS for the current year.

About BellRing Brands

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.