Wasatch Advisors LP Cuts Stake in BellRing Brands Inc. $BRBR

Wasatch Advisors LP lessened its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 67.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,994,367 shares of the company’s stock after selling 4,070,583 shares during the period. Wasatch Advisors LP owned 1.70% of BellRing Brands worth $32,089,000 as of its most recent filing with the Securities & Exchange Commission.

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

BellRing Brands Trading Up 1.4%

BellRing Brands stock opened at $11.54 on Friday. BellRing Brands Inc. has a 12-month low of $7.82 and a 12-month high of $59.45. The stock has a market cap of $1.34 billion, a P/E ratio of 8.95, a PEG ratio of 5.59 and a beta of 0.56. The company has a 50-day moving average price of $11.01 and a 200 day moving average price of $17.96.

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

Analyst Ratings Changes

Several brokerages have issued reports on BRBR. Jefferies Financial Group lowered their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. BTIG Research assumed coverage on shares of BellRing Brands in a research note on Monday, April 13th. They set a “neutral” rating for the company. Zacks Research downgraded shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Stifel Nicolaus decreased their target price on shares of BellRing Brands from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Morgan Stanley restated an “equal weight” rating and set a $13.00 target price (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, BellRing Brands has a consensus rating of “Hold” and an average price target of $22.47.

Insider Activity

In other news, Director David Isaiah Finkelstein purchased 4,000 shares of BellRing Brands stock in a transaction dated Wednesday, May 13th. The shares were purchased 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

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.