Louisiana State Employees Retirement System Has $1.42 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR – Free Report) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,800 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Louisiana State Employees Retirement System’s holdings in BellRing Brands were worth $1,420,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BRBR. Advisor Group Holdings Inc. grew its stake in shares of BellRing Brands by 1,839.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,413 shares of the company’s stock worth $78,000 after purchasing an additional 3,237 shares during the period. Raymond James & Associates bought a new position in BellRing Brands during the first quarter worth about $3,931,000. Bank of New York Mellon Corp lifted its holdings in BellRing Brands by 610.7% during the first quarter. Bank of New York Mellon Corp now owns 1,065,818 shares of the company’s stock worth $24,599,000 after acquiring an additional 915,857 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in BellRing Brands by 15,216.3% during the first quarter. PNC Financial Services Group Inc. now owns 15,010 shares of the company’s stock worth $347,000 after acquiring an additional 14,912 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in BellRing Brands during the first quarter worth about $221,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $44.00 target price on shares of BellRing Brands in a report on Tuesday, August 8th. Stephens reiterated an “overweight” rating and set a $43.00 target price on shares of BellRing Brands in a report on Tuesday, August 8th. Morgan Stanley boosted their price target on BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Finally, Barclays boosted their price target on BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $40.62.

Read Our Latest Report on BellRing Brands

BellRing Brands Stock Performance

BRBR opened at $41.03 on Wednesday. The business’s 50-day simple moving average is $39.36 and its 200 day simple moving average is $36.82. The firm has a market capitalization of $5.39 billion, a PE ratio of 35.99, a PEG ratio of 2.12 and a beta of 0.80. BellRing Brands, Inc. has a 52-week low of $20.59 and a 52-week high of $42.00.

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 for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $445.90 million for the quarter, compared to the consensus estimate of $439.90 million. BellRing Brands had a negative return on equity of 44.58% and a net margin of 9.73%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, research analysts forecast that BellRing Brands, Inc. will post 1.3 earnings per share for the current year.

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.