Royal Bank of Canada trimmed its position in shares of BellRing Brands Inc. (NYSE:BRBR – Free Report) by 82.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,940 shares of the company’s stock after selling 127,906 shares during the period. Royal Bank of Canada’s holdings in BellRing Brands were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in BellRing Brands by 86.9% in the fourth quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock valued at $187,013,000 after buying an additional 3,258,035 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of BellRing Brands in the third quarter valued at approximately $98,944,000. The Manufacturers Life Insurance Company boosted its stake in shares of BellRing Brands by 156.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock worth $102,380,000 after acquiring an additional 2,336,029 shares during the period. River Road Asset Management LLC acquired a new position in shares of BellRing Brands during the 4th quarter worth approximately $56,465,000. Finally, Wasatch Advisors LP increased its holdings in shares of BellRing Brands by 30.5% during the 3rd quarter. Wasatch Advisors LP now owns 6,750,018 shares of the company’s stock worth $245,363,000 after acquiring an additional 1,575,812 shares during the last quarter. 94.97% of the stock is owned by institutional investors.
BellRing Brands Trading Down 0.9%
BellRing Brands stock opened at $10.75 on Wednesday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 6.36 and a beta of 0.45. BellRing Brands Inc. has a 12 month low of $7.82 and a 12 month high of $43.02. The stock’s 50 day moving average is $11.95 and its 200-day moving average is $13.54.
Analysts Set New Price Targets
Several brokerages have issued reports on BRBR. Barclays raised their price target on BellRing Brands from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Stephens reiterated an “overweight” rating and issued 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 research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BellRing Brands in a research note on Friday, July 10th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.82.
Check Out Our Latest Report on BRBR
BellRing Brands 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.
Read More
- Five stocks we like better than BellRing Brands
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding BRBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BellRing Brands Inc. (NYSE:BRBR – Free Report).
Receive News & Ratings for BellRing Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BellRing Brands and related companies with MarketBeat.com's FREE daily email newsletter.
