Barclays Maintains Bellring Brands (BRBR) Overweight Recommendation

Fintel reports that on August 10, 2023, Barclays maintained coverage of Bellring Brands (NYSE:BRBR) with a Overweight recommendation.

Analyst Price Forecast Suggests 18.82% Upside

As of August 2, 2023, the average one-year price target for Bellring Brands is 43.94. The forecasts range from a low of 40.40 to a high of $49.35. The average price target represents an increase of 18.82% from its latest reported closing price of 36.98.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Bellring Brands is 1,620MM, an increase of 2.96%. The projected annual non-GAAP EPS is 1.24.

What is the Fund Sentiment?

There are 716 funds or institutions reporting positions in Bellring Brands. This is an increase of 32 owner(s) or 4.68% in the last quarter. Average portfolio weight of all funds dedicated to BRBR is 0.27%, a decrease of 5.45%. Total shares owned by institutions decreased in the last three months by 5.94% to 149,363K shares. The put/call ratio of BRBR is 0.60, indicating a bullish outlook.

What are Other Shareholders Doing?

Route One Investment Company holds 13,657K shares representing 10.28% ownership of the company. No change in the last quarter.

T. Rowe Price Investment Management holds 5,257K shares representing 3.96% ownership of the company. In it's prior filing, the firm reported owning 6,130K shares, representing a decrease of 16.60%. The firm increased its portfolio allocation in BRBR by 6.26% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,155K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 4,089K shares, representing an increase of 1.59%. The firm increased its portfolio allocation in BRBR by 24.42% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 4,121K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 4,183K shares, representing a decrease of 1.50%. The firm increased its portfolio allocation in BRBR by 25.04% over the last quarter.

Wasatch Advisors holds 3,796K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 3,743K shares, representing an increase of 1.40%. The firm increased its portfolio allocation in BRBR by 24.39% over the last quarter.

Bellring Brands Background Information
(This description is provided by the company.)

BellRing Brands, Inc. is a holding company operating in the global convenient nutrition category. Its primary brands, Premier Protein® and Dymatize®, comprise all major product forms, including ready-to-drink protein shakes, powders and nutrition bars, and are distributed across channels including club, food, drug, mass, eCommerce, specialty and convenience.

Additional reading:

• 2023, by and among Post Holdings, Inc., BellRing Intermediate Holdings, Inc., BellRing Brands, Inc. and BellRing Brands,
• and Restated Master Supply Agreement, dated as of July 1, 2023, by and between Premier Nutrition Company, LLC and Fonterra (USA)
• Purchase Commitment, dated as of July 1, 2023 by and between Premier Nutrition Company, LLC and Fonterra (USA)
• Press Release dated August 7, 2023
• Third Fiscal Quarter Ended June 30, 2023 Supplemental Presentation

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.