Fintel reports that on April 22, 2024, TD Cowen initiated coverage of BellRing Brands (NYSE:BRBR) with a Buy recommendation.
Analyst Price Forecast Suggests 11.34% Upside
As of April 17, 2024, the average one-year price target for BellRing Brands is 61.35. The forecasts range from a low of 42.42 to a high of $70.35. The average price target represents an increase of 11.34% from its latest reported closing price of 55.10.
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The projected annual revenue for BellRing Brands is 1,779MM, an increase of 2.57%. The projected annual non-GAAP EPS is 1.45.
What is the Fund Sentiment?
There are 893 funds or institutions reporting positions in BellRing Brands. This is an increase of 103 owner(s) or 13.04% in the last quarter. Average portfolio weight of all funds dedicated to BRBR is -0.82%, a decrease of 377.31%. Total shares owned by institutions increased in the last three months by 0.99% to 149,189K shares. 
The put/call ratio of BRBR is 1.22, indicating a bearish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 5,982K shares representing 4.57% ownership of the company. In it’s prior filing, the firm reported owning 6,515K shares, representing a decrease of 8.91%. The firm decreased its portfolio allocation in BRBR by 7.17% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,103K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 4,071K shares, representing an increase of 0.79%. The firm increased its portfolio allocation in BRBR by 21.09% over the last quarter.
Route One Investment Company holds 4,035K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 5,802K shares, representing a decrease of 43.80%. The firm decreased its portfolio allocation in BRBR by 44.90% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 3,990K shares representing 3.05% ownership of the company. In it’s prior filing, the firm reported owning 4,108K shares, representing a decrease of 2.96%. The firm increased its portfolio allocation in BRBR by 20.67% over the last quarter.
T. Rowe Price Investment Management holds 3,704K shares representing 2.83% ownership of the company. In it’s prior filing, the firm reported owning 5,006K shares, representing a decrease of 35.16%. The firm decreased its portfolio allocation in BRBR by 8.50% 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.
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This story originally appeared on Fintel.
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