Assenagon Asset Management S.A. Acquires 1,026,921 Shares of BellRing Brands Inc. $BRBR

Assenagon Asset Management S.A. lifted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 331.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,336,800 shares of the company’s stock after buying an additional 1,026,921 shares during the quarter. Assenagon Asset Management S.A. owned about 1.12% of BellRing Brands worth $35,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in BellRing Brands by 820.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,808 shares of the company’s stock worth $1,662,000 after purchasing an additional 42,612 shares during the period. Harbor Capital Advisors Inc. bought a new stake in BellRing Brands in the third quarter worth $1,287,000. Boothbay Fund Management LLC boosted its position in BellRing Brands by 1,954.2% during the third quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company’s stock valued at $7,514,000 after buying an additional 196,655 shares during the period. Savoir Faire Capital Management L.P. boosted its position in BellRing Brands by 144.4% during the third quarter. Savoir Faire Capital Management L.P. now owns 97,969 shares of the company’s stock valued at $3,561,000 after buying an additional 57,879 shares during the period. Finally, William Blair Investment Management LLC grew its stake in shares of BellRing Brands by 17.0% during the third quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company’s stock valued at $91,604,000 after buying an additional 366,121 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David Isaiah Finkelstein acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the acquisition, the director owned 7,391 shares of the company’s stock, valued at $131,190.25. This trade represents a 37.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley set a $32.00 price objective on BellRing Brands in a report on Friday, January 16th. Zacks Research upgraded BellRing Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Barclays reaffirmed an “overweight” rating on shares of BellRing Brands in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective on shares of BellRing Brands in a research report on Monday, January 26th. Finally, UBS Group set a $23.00 price objective on BellRing Brands in a research note on Wednesday, February 4th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.25.

BellRing Brands Stock Performance

NYSE BRBR opened at $15.53 on Thursday. The stock has a market cap of $1.82 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 3.13 and a beta of 0.69. BellRing Brands Inc. has a fifty-two week low of $15.30 and a fifty-two week high of $79.57. The stock has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $27.35.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Tuesday, February 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. BellRing Brands had a negative return on equity of 64.79% and a net margin of 7.88%.The firm had revenue of $537.30 million for the quarter, compared to analysts’ expectations of $505.44 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

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.