BellRing Brands (NYSE:BRBR) Shares Down 7.8% – Here’s Why

BellRing Brands Inc. (NYSE:BRBR)’s share price was down 7.8% during mid-day trading on Monday . The stock traded as low as $9.62 and last traded at $9.5050. Approximately 3,023,554 shares traded hands during trading, a decline of 29% from the average daily volume of 4,254,642 shares. The stock had previously closed at $10.31.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BRBR. Morgan Stanley reiterated an “equal weight” rating and set a $13.00 target price (down from $24.00) on shares of BellRing Brands in a research note on Wednesday, May 6th. BTIG Research began coverage on BellRing Brands in a report on Monday, April 13th. They set a “neutral” rating for the company. TD Cowen lowered their price objective on BellRing Brands from $17.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Bank of America cut their target price on BellRing Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 target price on shares of BellRing Brands in a research note on Monday, January 26th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.73.

BellRing Brands Trading Down 8.7%

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 5.06 and a beta of 0.74. The company’s 50 day moving average is $16.33 and its 200 day moving average is $23.17.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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 company had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts anticipate that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

Insider Activity

In other news, Director David Isaiah Finkelstein purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were purchased at an average price of $17.75 per share, for a total transaction of $35,500.00. Following the purchase, the director directly owned 7,391 shares of the company’s stock, valued at $131,190.25. This represents a 37.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of BellRing Brands by 331.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company’s stock worth $35,733,000 after acquiring an additional 1,026,921 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in BellRing Brands by 820.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,808 shares of the company’s stock valued at $1,662,000 after purchasing an additional 42,612 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in BellRing Brands by 1,954.2% during the 3rd 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 during the period. William Blair Investment Management LLC boosted its stake in BellRing Brands by 17.0% during the 3rd quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock worth $91,604,000 after purchasing an additional 366,121 shares during the period. Finally, Savoir Faire Capital Management L.P. grew its position in BellRing Brands by 144.4% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 97,969 shares of the company’s stock worth $3,561,000 after purchasing an additional 57,879 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.