Norges Bank Buys New Shares in BellRing Brands Inc. $BRBR

Norges Bank bought a new stake in shares of BellRing Brands Inc. (NYSE:BRBR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 803,887 shares of the company’s stock, valued at approximately $21,488,000.

Other large investors have also added to or reduced their stakes in the company. Danske Bank A S bought a new stake in BellRing Brands in the 3rd quarter worth $29,000. Larson Financial Group LLC grew its holdings in BellRing Brands by 128.7% in the 4th quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock worth $25,000 after acquiring an additional 524 shares during the last quarter. IFP Advisors Inc grew its holdings in 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 acquiring an additional 573 shares during the last quarter. CI Investments Inc. grew its holdings in 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 acquiring an additional 944 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in BellRing Brands by 42.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock worth $72,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

BRBR has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $13.00 price target (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. TD Cowen cut their target price on shares of BellRing Brands from $17.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. BTIG Research initiated coverage on shares of BellRing Brands in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Jefferies Financial Group cut their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Barclays cut their target price on shares of BellRing Brands from $22.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.47.

Insider Buying and Selling

In other BellRing Brands news, Director David Isaiah Finkelstein bought 4,000 shares of BellRing Brands stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $9.23 per share, with a total value of $36,920.00. Following the completion of the acquisition, the director owned 13,326 shares in the company, valued at approximately $122,998.98. This represents a 42.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $8.42 on Wednesday. The stock has a market capitalization of $978.61 million, a PE ratio of 6.52, a price-to-earnings-growth ratio of 3.88 and a beta of 0.56. BellRing Brands Inc. has a 52-week low of $7.82 and a 52-week high of $63.08. The company has a 50-day simple moving average of $12.54 and a two-hundred day simple moving average of $19.77.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.17). The firm had revenue of $598.70 million during the quarter, compared to analysts’ expectations of $608.88 million. BellRing Brands had a negative return on equity of 44.06% and a net margin of 6.78%.The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities research analysts forecast that BellRing Brands Inc. will post 1.23 EPS for the current fiscal 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.