Swiss National Bank lifted its holdings in BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,924 shares of the company’s stock after purchasing an additional 5,600 shares during the quarter. Swiss National Bank owned about 0.24% of BellRing Brands worth $8,434,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in BRBR. Advisor Group Holdings Inc. lifted its position in BellRing Brands by 1,839.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock worth $78,000 after acquiring an additional 3,237 shares during the period. Raymond James & Associates acquired a new stake in BellRing Brands during the 1st quarter worth about $3,931,000. Bank of New York Mellon Corp lifted its holdings in shares of BellRing Brands by 610.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,065,818 shares of the company’s stock valued at $24,599,000 after buying an additional 915,857 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of BellRing Brands by 15,216.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,010 shares of the company’s stock valued at $347,000 after buying an additional 14,912 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of BellRing Brands in the 1st quarter valued at about $221,000. Institutional investors and hedge funds own 92.40% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on BRBR. Truist Financial raised BellRing Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $40.00 in a report on Thursday, March 23rd. The Goldman Sachs Group boosted their price objective on BellRing Brands from $36.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Needham & Company LLC boosted their price objective on BellRing Brands from $40.00 to $44.00 in a report on Wednesday, May 10th. Stifel Nicolaus started coverage on BellRing Brands in a research note on Thursday, April 13th. They issued a “buy” rating and a $39.00 price target for the company. Finally, Stephens lifted their price target on BellRing Brands from $39.00 to $43.00 in a research note on Wednesday, May 10th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $40.15.
BellRing Brands Stock Performance
BellRing Brands (NYSE:BRBR – Get Rating) last issued its earnings results on Monday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $385.60 million for the quarter, compared to analysts’ expectations of $371.26 million. BellRing Brands had a negative return on equity of 36.56% and a net margin of 8.29%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. On average, research analysts forecast that BellRing Brands, Inc. will post 1.23 earnings per share for the current year.
Insider Activity at BellRing Brands
In related news, Chairman Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $35.82, for a total value of $537,300.00. Following the transaction, the chairman now directly owns 230,054 shares in the company, valued at $8,240,534.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.
BellRing Brands Company Profile
BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.
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