Retirement Systems of Alabama Purchases 191,638 Shares of BellRing Brands Inc. $BRBR

Retirement Systems of Alabama grew its position in BellRing Brands Inc. (NYSE:BRBR) by 55.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 538,946 shares of the company’s stock after acquiring an additional 191,638 shares during the quarter. Retirement Systems of Alabama owned 0.45% of BellRing Brands worth $14,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of BellRing Brands by 132.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $27,000 after acquiring an additional 419 shares during the last quarter. Danske Bank A S bought a new stake in BellRing Brands in the third quarter worth $29,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in BellRing Brands during the third quarter valued at $35,000. IFP Advisors Inc raised its stake in BellRing Brands by 124.3% during the third quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock valued at $38,000 after purchasing an additional 573 shares in the last quarter. Finally, CI Investments Inc. lifted its position in BellRing Brands by 439.1% during the third quarter. CI Investments Inc. now owns 1,159 shares of the company’s stock valued at $42,000 after purchasing an additional 944 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Up 6.2%

BRBR stock opened at $16.60 on Friday. BellRing Brands Inc. has a twelve month low of $14.43 and a twelve month high of $79.57. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73. The firm’s fifty day simple moving average is $18.76 and its two-hundred day simple moving average is $26.53.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The firm had revenue of $537.30 million during the quarter, compared to analyst estimates of $505.44 million. During the same quarter last year, the business earned $0.58 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

Insider Transactions at BellRing Brands

In other news, Director David Isaiah Finkelstein acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was acquired at an average price of $17.75 per share, with a total value of $35,500.00. Following the completion of the purchase, the director directly owned 7,391 shares in the company, valued at approximately $131,190.25. This trade represents a 37.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BRBR shares. Bank of America lifted their price objective on shares of BellRing Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Barclays restated an “overweight” rating on shares of BellRing Brands in a research report on Thursday, February 5th. TD Cowen reiterated a “hold” rating on shares of BellRing Brands in a research report on Thursday, January 8th. Zacks Research raised BellRing Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Mizuho decreased their price objective on BellRing Brands from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and an average target price of $37.25.

About BellRing Brands

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.