E. Ohman J or Asset Management AB Acquires Shares of 506,473 BellRing Brands, Inc. (NYSE:BRBR)

E. Ohman J or Asset Management AB bought a new stake in BellRing Brands, Inc. (NYSE:BRBR) during the 3rd quarter, HoldingsChannel reports. The fund bought 506,473 shares of the company’s stock, valued at approximately $30,753,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in BellRing Brands by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after acquiring an additional 698,121 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after purchasing an additional 86,992 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of BellRing Brands by 23.3% during the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after purchasing an additional 402,666 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of BellRing Brands by 4.6% in the second quarter. Driehaus Capital Management LLC now owns 2,064,167 shares of the company’s stock worth $117,947,000 after purchasing an additional 91,149 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in BellRing Brands by 135.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after buying an additional 847,161 shares during the period. Institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRBR shares. Bank of America boosted their price objective on shares of BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Truist Financial increased their price target on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their price objective on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and an average price target of $65.71.

BellRing Brands Stock Performance

BRBR stock opened at $65.07 on Friday. BellRing Brands, Inc. has a one year low of $42.71 and a one year high of $67.12. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 1.48 and a beta of 0.85. The firm has a 50-day simple moving average of $59.65 and a two-hundred day simple moving average of $57.18.

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