Mirae Asset Global Investments Co. Ltd. Purchases 2,134 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Mirae Asset Global Investments Co. Ltd. raised its position in BellRing Brands, Inc. (NYSE:BRBR) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,898 shares of the company’s stock after buying an additional 2,134 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BellRing Brands were worth $3,930,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in shares of BellRing Brands by 1,839.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock worth $78,000 after purchasing an additional 3,237 shares during the period. Raymond James & Associates acquired a new stake in BellRing Brands during the first quarter worth approximately $3,931,000. Bank of New York Mellon Corp grew its position in BellRing Brands by 610.7% during the first quarter. Bank of New York Mellon Corp now owns 1,065,818 shares of the company’s stock worth $24,599,000 after buying an additional 915,857 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in BellRing Brands by 15,216.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,010 shares of the company’s stock worth $347,000 after acquiring an additional 14,912 shares during the period. Finally, Bank of Montreal Can acquired a new position in BellRing Brands in the 1st quarter valued at $221,000. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRBR. Truist Financial lowered BellRing Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $50.00 in a report on Wednesday, January 3rd. Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 6th. Morgan Stanley boosted their target price on shares of BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Barclays increased their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC boosted their price objective on shares of BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and an average target price of $57.08.

Insiders Place Their Bets

In other news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now directly owns 24,646 shares of the company’s stock, valued at $1,424,785.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

BellRing Brands Price Performance

Shares of NYSE:BRBR opened at $55.21 on Wednesday. BellRing Brands, Inc. has a one year low of $33.99 and a one year high of $62.76. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 2.09 and a beta of 0.83. The firm has a 50 day simple moving average of $58.22 and a 200 day simple moving average of $52.99.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The company had revenue of $430.40 million during the quarter, compared to the consensus estimate of $407.91 million. As a group, analysts expect that BellRing Brands, Inc. will post 1.67 EPS for the current year.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.