Kornitzer Capital Management Inc. KS Boosts Stake in BellRing Brands, Inc. (NYSE:BRBR)

Kornitzer Capital Management Inc. KS lifted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 444.5% during the 4th quarter, HoldingsChannel reports. The fund owned 188,480 shares of the company’s stock after purchasing an additional 153,865 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BellRing Brands were worth $10,447,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BRBR. Pathstone Family Office LLC purchased a new position in BellRing Brands in the 3rd quarter valued at about $697,000. International Assets Investment Management LLC purchased a new stake in shares of BellRing Brands during the fourth quarter worth $5,076,000. Federated Hermes Inc. raised its position in shares of BellRing Brands by 19.8% in the third quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock valued at $10,914,000 after buying an additional 43,766 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of BellRing Brands by 273.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock valued at $44,298,000 after buying an additional 786,756 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of BellRing Brands in the third quarter valued at about $19,316,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 0.5 %

Shares of BellRing Brands stock traded down $0.25 during mid-day trading on Friday, hitting $53.98. The stock had a trading volume of 994,201 shares, compared to its average volume of 894,209. The firm has a 50-day moving average of $57.93 and a two-hundred day moving average of $53.10. BellRing Brands, Inc. has a 12-month low of $34.58 and a 12-month high of $62.76. The firm has a market cap of $7.07 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $430.40 million during the quarter, compared to analysts’ expectations of $407.91 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. Sell-side analysts expect that BellRing Brands, Inc. will post 1.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the completion of the transaction, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens reiterated an “equal weight” rating and issued a $51.00 price objective on shares of BellRing Brands in a report on Tuesday, February 6th. Needham & Company LLC increased their price objective on shares of BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Citigroup assumed coverage on shares of BellRing Brands in a report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price objective for the company. Mizuho increased their price objective on shares of BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Barclays increased their price objective on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.08.

BellRing Brands Company Profile

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.