Truist Financial Cuts BellRing Brands (NYSE:BRBR) Price Target to $60.00

BellRing Brands (NYSE:BRBR) had its price target lowered by Truist Financial from $65.00 to $60.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective on the stock. Barclays set a $75.00 target price on BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Citigroup reduced their target price on BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. UBS Group reduced their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Evercore ISI reduced their target price on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $76.69.

BellRing Brands Trading Up 0.1%

Shares of BellRing Brands stock opened at $57.58 on Wednesday. The company’s fifty day simple moving average is $63.17 and its 200-day simple moving average is $70.17. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.82 and a beta of 0.70. BellRing Brands has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. BellRing Brands’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. As a group, research analysts forecast that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

Insider Activity at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $58.04, for a total value of $92,864.00. Following the sale, the chief executive officer owned 201,978 shares in the company, valued at approximately $11,722,803.12. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 6,400 shares of company stock valued at $385,952. 1.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of BellRing Brands by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 248,024 shares of the company’s stock valued at $18,468,000 after purchasing an additional 48,140 shares in the last quarter. Strs Ohio acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $36,192,000. Woodline Partners LP acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $10,440,000. McIlrath & Eck LLC boosted its stake in shares of BellRing Brands by 13.6% in the 1st quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock valued at $105,000 after purchasing an additional 169 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $619,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.