Steamboat Capital Partners LLC Makes New $5.12 Million Investment in BellRing Brands Inc. $BRBR

Steamboat Capital Partners LLC bought a new position in BellRing Brands Inc. (NYSE:BRBR) during the second quarter, HoldingsChannel.com reports. The fund bought 395,521 shares of the company’s stock, valued at approximately $5,118,000.

Several other hedge funds have also recently made changes to their positions in the business. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in BellRing Brands during the second quarter worth approximately $42,868,000. AQR Capital Management LLC lifted its stake in shares of BellRing Brands by 86.9% in the 4th quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock valued at $187,013,000 after purchasing an additional 3,258,035 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of BellRing Brands in the 3rd quarter valued at approximately $98,944,000. The Manufacturers Life Insurance Company boosted its holdings in shares of BellRing Brands by 156.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock worth $102,380,000 after purchasing an additional 2,336,029 shares during the period. Finally, River Road Asset Management LLC purchased a new position in shares of BellRing Brands in the 4th quarter worth approximately $56,465,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 5.6%

BRBR opened at $9.80 on Wednesday. The business has a fifty day moving average of $11.84 and a 200 day moving average of $12.98. The stock has a market cap of $1.14 billion, a P/E ratio of 6.90, a PEG ratio of 6.09 and a beta of 0.43. BellRing Brands Inc. has a 52-week low of $7.82 and a 52-week high of $38.77.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of BellRing Brands in a report on Friday, July 10th. Zacks Research raised shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. DA Davidson increased their target price on shares of BellRing Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised their target price on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of BellRing Brands from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.82.

BellRing Brands Company 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.