Norges Bank Takes Position in BellRing Brands Inc. $BRBR

Norges Bank bought a new stake in shares of BellRing Brands Inc. (NYSE:BRBRFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 803,887 shares of the company’s stock, valued at approximately $21,488,000. Norges Bank owned 0.67% of BellRing Brands as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRBR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of BellRing Brands during the 4th quarter valued at approximately $544,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of BellRing Brands during the 4th quarter valued at approximately $2,971,000. Geode Capital Management LLC lifted its stake in shares of BellRing Brands by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,310,170 shares of the company’s stock valued at $61,764,000 after buying an additional 20,194 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of BellRing Brands during the 4th quarter valued at approximately $505,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of BellRing Brands during the 4th quarter valued at approximately $614,000. 94.97% of the stock is owned by institutional investors.

BellRing Brands Price Performance

NYSE BRBR opened at $8.42 on Wednesday. BellRing Brands Inc. has a 1 year low of $7.82 and a 1 year high of $63.08. The stock has a market capitalization of $978.61 million, a PE ratio of 6.52, a P/E/G ratio of 3.88 and a beta of 0.56. The company’s 50 day simple moving average is $12.54 and its two-hundred day simple moving average is $19.77.

BellRing Brands (NYSE:BRBRGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.17). The firm had revenue of $598.70 million during 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%.The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, research analysts anticipate that BellRing Brands Inc. will post 1.23 EPS for the current year.

Insider Buying and Selling at BellRing Brands

In related news, Director David Isaiah Finkelstein acquired 4,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $9.23 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of BellRing Brands from $21.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Sanford C. Bernstein cut shares of BellRing Brands from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $35.00 to $11.00 in a research note on Wednesday, May 6th. Morgan Stanley restated an “equal weight” rating and set a $13.00 price target (down from $24.00) on shares of BellRing Brands in a research note on Wednesday, May 6th. Jefferies Financial Group dropped their price target 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. Finally, BTIG Research began coverage on shares of BellRing Brands in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.47.

Read Our Latest Report on BellRing Brands

About BellRing Brands

(Free Report)

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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Institutional Ownership by Quarter for BellRing Brands (NYSE:BRBR)

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