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

Weiss Asset Management LP acquired a new stake in BellRing Brands Inc. (NYSE:BRBR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 the company. Goldman Sachs Group Inc. lifted its holdings in BellRing Brands by 20.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company’s stock worth $18,868,000 after buying an additional 42,666 shares during the period. Caxton Associates LLP bought a new stake in shares of BellRing Brands during the 1st quarter valued at $278,000. Northwestern Mutual Wealth Management Co. boosted its stake in BellRing Brands by 42.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock worth $72,000 after acquiring an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of BellRing Brands by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,595 shares of the company’s stock worth $92,000 after purchasing an additional 755 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in BellRing Brands by 4.2% in the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after acquiring an additional 9,179 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BellRing Brands news, Director David Isaiah Finkelstein bought 4,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, with a total value of $36,920.00. Following the transaction, the director owned 13,326 shares in the company, valued at $122,998.98. This represents a 42.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BRBR. Weiss Ratings reissued a “sell (d)” rating on shares of BellRing Brands in a research note on Friday, July 10th. Bank of America lowered their price target on BellRing Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Stifel Nicolaus upped their price target on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of BellRing Brands in a research report on Thursday, July 9th. Finally, BTIG Research started coverage on shares of BellRing Brands in a research note on Monday, April 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.70.

BellRing Brands Trading Up 0.3%

BellRing Brands stock opened at $12.99 on Tuesday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 6.34 and a beta of 0.45. The stock has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $15.47. BellRing Brands Inc. has a 12 month low of $7.82 and a 12 month high of $56.69.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $608.88 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

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.