Mirae Asset Global Investments Co. Ltd. Purchases New Shares in BellRing Brands Inc. (NYSE:BRBR)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in BellRing Brands Inc. (NYSE:BRBR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,777 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of BellRing Brands by 1,742.9% in the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 366 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock valued at $33,000 after purchasing an additional 283 shares during the period. Colonial Trust Co SC acquired a new position in shares of BellRing Brands in the 4th quarter valued at $44,000. Aster Capital Management DIFC Ltd boosted its position in shares of BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after purchasing an additional 643 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 591 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $58.04, for a total value of $92,864.00. Following the completion of the sale, the chief executive officer directly owned 201,978 shares in the company, valued at approximately $11,722,803.12. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 6,400 shares of company stock valued at $385,952. 1.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

BRBR has been the subject of a number of research reports. Evercore ISI decreased their price objective on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Truist Financial decreased their price objective on BellRing Brands from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, July 2nd. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. DA Davidson upgraded BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 27th. Finally, Citigroup decreased their price objective on BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

BellRing Brands Stock Performance

BRBR opened at $57.58 on Monday. The business has a 50 day moving average price of $63.17 and a 200 day moving average price of $70.08. BellRing Brands Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The firm has a market cap of $7.31 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal 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.