E Fund Management Hong Kong Co. Ltd. Purchases Shares of 691 BellRing Brands, Inc. (NYSE:BRBR)

E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 691 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds also recently made changes to their positions in BRBR. Holocene Advisors LP bought a new position in shares of BellRing Brands during the 3rd quarter valued at approximately $69,998,000. Assenagon Asset Management S.A. boosted its position in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock valued at $74,781,000 after acquiring an additional 661,774 shares during the last quarter. E. Ohman J or Asset Management AB bought a new stake in BellRing Brands in the third quarter worth $30,753,000. Champlain Investment Partners LLC bought a new stake in BellRing Brands in the third quarter worth $30,699,000. Finally, Wasatch Advisors LP lifted its position in BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after buying an additional 494,669 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Cowen increased their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their target price on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Citigroup lifted their target price on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays raised their price target on BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, DA Davidson reissued a “neutral” rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.67.

BellRing Brands Stock Performance

Shares of BRBR opened at $75.98 on Monday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.57 and a beta of 0.86. The stock has a 50 day moving average price of $75.69 and a 200 day moving average price of $64.91.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

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.