Carlson Capital L.P. Buys Shares of 41,000 BellRing Brands Inc. $BRBR

Carlson Capital L.P. bought a new position in shares of BellRing Brands Inc. (NYSE:BRBR) in the 1st quarter, HoldingsChannel.com reports. The fund bought 41,000 shares of the company’s stock, valued at approximately $660,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BRBR. Retirement Systems of Alabama increased its holdings in shares of BellRing Brands by 55.2% during the fourth quarter. Retirement Systems of Alabama now owns 538,946 shares of the company’s stock worth $14,406,000 after buying an additional 191,638 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of BellRing Brands by 125.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,964,321 shares of the company’s stock valued at $52,506,000 after acquiring an additional 1,092,328 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of BellRing Brands by 154.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 444,048 shares of the company’s stock valued at $7,145,000 after acquiring an additional 269,644 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of BellRing Brands by 5.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,127,834 shares of the company’s stock valued at $30,147,000 after acquiring an additional 60,005 shares in the last quarter. Finally, River Road Asset Management LLC bought a new stake in BellRing Brands during the 4th quarter worth $56,465,000. Institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling at BellRing Brands

In related news, Director David Isaiah Finkelstein purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $9.23 per share, with a total value of $36,920.00. Following the completion of the purchase, the director owned 13,326 shares in the company, valued at approximately $122,998.98. This represents a 42.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the subject of a number of recent research reports. Zacks Research raised BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Sanford C. Bernstein lowered BellRing Brands from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $11.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BellRing Brands in a research note on Friday, July 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $13.00 price objective (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.97.

BellRing Brands Stock Down 6.0%

NYSE BRBR opened at $12.36 on Friday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 6.39 and a beta of 0.45. BellRing Brands Inc. has a twelve month low of $7.82 and a twelve month high of $55.24. The stock has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $15.22.

BellRing Brands (NYSE:BRBR) last announced 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 company had revenue of $598.70 million for the quarter, compared to the consensus estimate of $608.88 million. BellRing Brands had a negative return on equity of 44.06% and a net margin of 6.78%.The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. Research analysts expect that BellRing Brands Inc. will post 1.24 earnings per share for the current fiscal year.

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.