Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in BellRing Brands Inc. $BRBR

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in BellRing Brands Inc. (NYSE:BRBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,312,830 shares of the company’s stock, valued at approximately $42,868,000. Diamond Hill Capital Management LLC Investment Advisor owned about 2.85% of BellRing Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of BellRing Brands by 20.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company’s stock worth $18,868,000 after buying an additional 42,666 shares in the last quarter. Caxton Associates LLP acquired a new stake in BellRing Brands in the 1st quarter valued at about $278,000. Northwestern Mutual Wealth Management Co. increased its holdings in BellRing Brands by 42.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock valued at $72,000 after acquiring an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in BellRing Brands by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,595 shares of the company’s stock valued at $92,000 after acquiring an additional 755 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in BellRing Brands by 4.2% during the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after acquiring an additional 9,179 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Down 0.0%

Shares of BRBR opened at $10.74 on Monday. BellRing Brands Inc. has a twelve month low of $7.82 and a twelve month high of $43.02. The firm has a market capitalization of $1.25 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 6.30 and a beta of 0.45. The stock’s fifty day simple moving average is $11.68 and its 200 day simple moving average is $14.19.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.07). The firm had revenue of $570.40 million for the quarter, compared to analysts’ expectations of $548.72 million. BellRing Brands had a net margin of 7.28% and a negative return on equity of 33.04%. BellRing Brands’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Sell-side analysts predict that BellRing Brands Inc. will post 1.03 earnings per share for the current year.

Analyst Ratings Changes

BRBR has been the topic of several recent research reports. Zacks Research raised shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. TD Cowen raised their price objective on shares of BellRing Brands from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of BellRing Brands in a research report on Thursday, July 9th. UBS Group lifted their price objective on BellRing Brands from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $13.00 target price (down from $24.00) on shares of BellRing Brands in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.82.

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.