BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Principal Financial Group Inc.

Posted by on Aug 23rd, 2023

Principal Financial Group Inc. boosted its stake in BellRing Brands, Inc. (NYSE:BRBR – Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 666,288 shares of the company’s stock after acquiring an additional 110,813 shares during the quarter. Principal Financial Group Inc.’s holdings in BellRing Brands were worth $22,654,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New York Life Investment Management LLC boosted its holdings in BellRing Brands by 12.0% in the fourth quarter. New York Life Investment Management LLC now owns 24,579 shares of the company’s stock valued at $630,000 after purchasing an additional 2,637 shares during the last quarter. Sei Investments Co. boosted its stake in shares of BellRing Brands by 10.9% during the 4th quarter. Sei Investments Co. now owns 557,639 shares of the company’s stock valued at $14,298,000 after buying an additional 54,650 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of BellRing Brands during the fourth quarter worth approximately $273,000. Transatlantique Private Wealth LLC bought a new stake in shares of BellRing Brands in the first quarter worth $245,000. Finally, Arizona State Retirement System raised its holdings in BellRing Brands by 2.0% in the first quarter. Arizona State Retirement System now owns 39,202 shares of the company’s stock valued at $1,333,000 after acquiring an additional 757 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

BellRing Brands Price Performance

NYSE:BRBR opened at $40.17 on Wednesday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.97 and a beta of 0.83. The business has a 50 day simple moving average of $36.41 and a 200 day simple moving average of $34.67. BellRing Brands, Inc. has a 12-month low of $20.20 and a 12-month high of $40.32.

BellRing Brands (NYSE:BRBR – Get Free Report) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $445.90 million during the quarter, compared to the consensus estimate of $439.90 million. BellRing Brands had a net margin of 9.73% and a negative return on equity of 44.58%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Research analysts anticipate that BellRing Brands, Inc. will post 1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of BellRing Brands from $35.00 to $41.00 in a report on Tuesday, May 9th. William Blair began coverage on BellRing Brands in a research note on Wednesday, April 26th. They issued an “outperform” rating for the company. Barclays upped their price objective on BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and issued a $44.00 target price on shares of BellRing Brands in a research report on Tuesday, August 8th. Finally, Jefferies Financial Group upped their price target on BellRing Brands from $38.00 to $42.00 in a research report on Friday, April 28th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.62.

Get Our Latest Research Report on BellRing Brands

BellRing Brands Profile

(Free Report)

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.

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Institutional Ownership by Quarter for BellRing Brands (NYSE:BRBR)

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