BellRing Brands Inc. $BRBR Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its stake in BellRing Brands Inc. (NYSE:BRBR) by 67.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,994,367 shares of the company’s stock after selling 4,070,583 shares during the period. Wasatch Advisors LP’s holdings in BellRing Brands were worth $32,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRBR. Assenagon Asset Management S.A. boosted its stake in BellRing Brands by 331.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company’s stock worth $35,733,000 after buying an additional 1,026,921 shares during the period. Boothbay Fund Management LLC raised its stake in shares of BellRing Brands by 1,954.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company’s stock valued at $7,514,000 after acquiring an additional 196,655 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of BellRing Brands by 17.0% in the 3rd quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock worth $91,604,000 after acquiring an additional 366,121 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of BellRing Brands by 27.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 711,625 shares of the company’s stock worth $19,022,000 after acquiring an additional 151,990 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of BellRing Brands by 55.2% during the 4th quarter. Retirement Systems of Alabama now owns 538,946 shares of the company’s stock worth $14,406,000 after purchasing an additional 191,638 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of BellRing Brands from $22.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. UBS Group decreased their price target on BellRing Brands from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. BTIG Research assumed coverage on BellRing Brands in a research report on Monday, April 13th. They set a “neutral” rating for the company. JPMorgan Chase & Co. dropped their price objective on BellRing Brands from $21.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein downgraded BellRing Brands from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $35.00 to $11.00 in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.47.

BellRing Brands Stock Performance

NYSE BRBR opened at $11.54 on Friday. The firm has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $17.96. BellRing Brands Inc. has a one year low of $7.82 and a one year high of $59.45. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 5.59 and a beta of 0.56.

BellRing Brands (NYSE:BRBR) last announced 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). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. During the same quarter last year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts predict that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other BellRing Brands news, Director David Isaiah Finkelstein purchased 4,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the purchase, the director directly owned 13,326 shares in the company, valued at approximately $122,998.98. The trade was a 42.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

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.