Harbor Capital Advisors Inc. Purchases 37,685 Shares of BellRing Brands Inc. $BRBR

Harbor Capital Advisors Inc. grew its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 106.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,102 shares of the company’s stock after buying an additional 37,685 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of BellRing Brands worth $1,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in BellRing Brands by 132.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after acquiring an additional 419 shares during the last quarter. Danske Bank A S purchased a new stake in BellRing Brands during the 3rd quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in BellRing Brands during the 3rd quarter valued at $35,000. IFP Advisors Inc increased its holdings in shares of BellRing Brands by 124.3% in the 3rd quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock worth $38,000 after purchasing an additional 573 shares in the last quarter. Finally, CI Investments Inc. increased its holdings in shares of BellRing Brands by 439.1% in the 3rd quarter. CI Investments Inc. now owns 1,159 shares of the company’s stock worth $42,000 after purchasing an additional 944 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

NYSE:BRBR opened at $16.60 on Friday. The stock has a 50-day simple moving average of $18.54 and a two-hundred day simple moving average of $26.33. BellRing Brands Inc. has a 52-week low of $14.43 and a 52-week high of $79.57. The firm has a market capitalization of $1.95 billion, a PE ratio of 11.45, a P/E/G ratio of 3.28 and a beta of 0.73.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BRBR shares. Zacks Research raised BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Bank of America lifted their price objective on BellRing Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. UBS Group set a $23.00 target price on BellRing Brands in a research report on Wednesday, February 4th. Mizuho dropped their price target on shares of BellRing Brands from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Stifel Nicolaus reduced their price target on shares of BellRing Brands from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein purchased 2,000 shares of the stock in a transaction on Friday, February 13th. The shares were acquired at an average price of $17.75 per share, with a total value of $35,500.00. Following the completion of the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

About BellRing Brands

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.