Weiss Asset Management LP Makes New Investment in BellRing Brands Inc. $BRBR

Weiss Asset Management LP bought a new stake in shares of BellRing Brands Inc. (NYSE:BRBR) in the first quarter, HoldingsChannel.com reports. The firm bought 50,960 shares of the company’s stock, valued at approximately $820,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRBR. Larson Financial Group LLC grew its holdings in shares of BellRing Brands by 128.7% in the fourth quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock worth $25,000 after acquiring an additional 524 shares during the period. Danske Bank A S bought a new position in BellRing Brands in the third quarter valued at about $29,000. IFP Advisors Inc lifted its holdings in BellRing Brands by 124.3% in the third quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock valued at $38,000 after acquiring an additional 573 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in BellRing Brands by 333.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,856 shares of the company’s stock worth $50,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Signaturefd LLC boosted its position in BellRing Brands by 578.9% in the fourth quarter. Signaturefd LLC now owns 1,901 shares of the company’s stock worth $51,000 after purchasing an additional 1,621 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Performance

NYSE:BRBR opened at $12.99 on Tuesday. The stock has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $15.47. The firm has a market capitalization of $1.51 billion, a PE ratio of 10.07, a P/E/G ratio of 6.34 and a beta of 0.45. BellRing Brands Inc. has a 52-week low of $7.82 and a 52-week high of $56.69.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). The company had revenue of $598.70 million for the quarter, compared to analysts’ expectations of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Equities analysts forecast that BellRing Brands Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BRBR shares. Stephens reaffirmed an “overweight” rating and set a $20.00 price target on shares of BellRing Brands in a research report on Thursday, July 9th. Zacks Research raised shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Bank of America cut their target price on shares of BellRing Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. TD Cowen reduced their target price on shares of BellRing Brands from $17.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of BellRing Brands from $21.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BellRing Brands has a consensus rating of “Hold” and a consensus price target of $20.70.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein bought 4,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the purchase, the director owned 13,326 shares in the company, valued at approximately $122,998.98. The trade was a 42.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.