Steamboat Capital Partners LLC acquired a new position in BellRing Brands Inc. (NYSE:BRBR – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 395,521 shares of the company’s stock, valued at approximately $5,118,000. Steamboat Capital Partners LLC owned approximately 0.34% of BellRing Brands at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of BRBR. Goldman Sachs Group Inc. increased its stake 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 in the last quarter. Caxton Associates LLP purchased a new position in shares of BellRing Brands in the first quarter valued at about $278,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of BellRing Brands by 42.6% in 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 during the period. EverSource Wealth Advisors LLC grew its position in shares of BellRing Brands by 89.9% during the second 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 grew its position in shares of BellRing Brands by 4.2% during the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after purchasing an additional 9,179 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.
BellRing Brands Trading Down 5.6%
Shares of BRBR stock opened at $9.80 on Wednesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 6.09 and a beta of 0.43. BellRing Brands Inc. has a 12-month low of $7.82 and a 12-month high of $38.77. The stock’s 50-day moving average price is $11.84 and its 200-day moving average price is $12.98.
Wall Street Analysts Forecast Growth
BRBR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on BellRing Brands from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of BellRing Brands in a report on Thursday, July 9th. DA Davidson increased their price objective on shares of BellRing Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Barclays lifted their price objective on shares of BellRing Brands from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BellRing Brands in a report on Friday, July 10th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.82.
View Our Latest Analysis on BRBR
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.
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