BellRing Brands Inc. $BRBR Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in BellRing Brands Inc. (NYSE:BRBR) by 249.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 309,879 shares of the company’s stock after purchasing an additional 221,191 shares during the period. Assenagon Asset Management S.A. owned 0.25% of BellRing Brands worth $11,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRBR. McIlrath & Eck LLC increased its position in BellRing Brands by 13.6% in the first quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock worth $105,000 after buying an additional 169 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of BellRing Brands by 2.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,083 shares of the company’s stock valued at $526,000 after acquiring an additional 200 shares during the period. Shilanski & Associates Inc. grew its position in shares of BellRing Brands by 1.2% during the second quarter. Shilanski & Associates Inc. now owns 23,218 shares of the company’s stock worth $1,345,000 after acquiring an additional 264 shares during the last quarter. VestGen Investment Management grew its position in shares of BellRing Brands by 5.0% during the second quarter. VestGen Investment Management now owns 6,080 shares of the company’s stock worth $352,000 after acquiring an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of BellRing Brands by 149.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the completion of the sale, the insider owned 54,812 shares in the company, valued at $1,695,335.16. This represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Price Performance

BellRing Brands stock opened at $28.97 on Friday. BellRing Brands Inc. has a 12-month low of $22.45 and a 12-month high of $80.67. The stock has a market capitalization of $3.47 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.67. The firm has a 50 day simple moving average of $30.72 and a 200-day simple moving average of $41.60.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen reissued a “hold” rating and set a $31.00 target price (down from $37.00) on shares of BellRing Brands in a research note on Thursday, November 20th. UBS Group reaffirmed a “neutral” rating and set a $34.00 price target on shares of BellRing Brands in a report on Friday, November 28th. Sanford C. Bernstein assumed coverage on BellRing Brands in a research report on Thursday, October 23rd. They set an “outperform” rating and a $46.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $62.00 price objective on BellRing Brands in a report on Monday, December 15th. Finally, Morgan Stanley cut their target price on BellRing Brands from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.00.

BellRing Brands Company Profile

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.