Fifth Third Bancorp Has $1.50 Million Holdings in BellRing Brands Inc. $BRBR

Fifth Third Bancorp lifted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 7,817.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,112 shares of the company’s stock after purchasing an additional 91,936 shares during the quarter. Fifth Third Bancorp owned 0.08% of BellRing Brands worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRBR. Larson Financial Group LLC raised its position in shares of BellRing Brands by 128.7% in the 4th quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock valued at $25,000 after buying an additional 524 shares in the last quarter. Danske Bank A S acquired a new stake in shares of BellRing Brands during the 3rd quarter worth approximately $29,000. IFP Advisors Inc boosted its position in shares of BellRing Brands by 124.3% during the 3rd quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock worth $38,000 after acquiring an additional 573 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in BellRing Brands by 333.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,856 shares of the company’s stock valued at $50,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Signaturefd LLC increased its stake in BellRing Brands by 578.9% in the fourth quarter. Signaturefd LLC now owns 1,901 shares of the company’s stock valued at $51,000 after acquiring an additional 1,621 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BellRing Brands

In other news, Director David Isaiah Finkelstein bought 4,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $9.23 per share, with a total value of $36,920.00. Following the transaction, the director directly owned 13,326 shares in the company, valued at $122,998.98. This represents a 42.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $12.88 on Friday. BellRing Brands Inc. has a one year low of $7.82 and a one year high of $56.69. The stock’s 50-day moving average is $10.61 and its 200 day moving average is $15.62. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 6.28 and a beta of 0.45.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.17). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The company had revenue of $598.70 million during the quarter, compared to the consensus estimate of $608.88 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that BellRing Brands Inc. will post 1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research reports. DA Davidson raised shares of BellRing Brands to a “strong-buy” rating in a research note on Monday, July 6th. Sanford C. Bernstein cut shares of BellRing Brands from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $11.00 in a research note on Wednesday, May 6th. Zacks Research upgraded shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Bank of America dropped their price target on BellRing Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. cut their price objective on BellRing Brands from $21.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. One research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.70.

BellRing Brands 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.