Balboa Wealth Partners Acquires Shares of 4,954 BellRing Brands, Inc. (NYSE:BRBR)

Balboa Wealth Partners bought a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,954 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thornburg Investment Management Inc. raised its holdings in shares of BellRing Brands by 51.1% during the fourth quarter. Thornburg Investment Management Inc. now owns 154,240 shares of the company’s stock valued at $8,550,000 after acquiring an additional 52,181 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in BellRing Brands by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,171,230 shares of the company’s stock worth $64,921,000 after purchasing an additional 33,613 shares in the last quarter. Pathstone Family Office LLC bought a new position in BellRing Brands in the third quarter worth $697,000. International Assets Investment Management LLC bought a new position in BellRing Brands in the fourth quarter worth $5,076,000. Finally, Federated Hermes Inc. raised its holdings in BellRing Brands by 19.8% in the third quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock worth $10,914,000 after purchasing an additional 43,766 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 2.0 %

NYSE:BRBR traded up $1.17 on Thursday, hitting $59.56. The stock had a trading volume of 247,663 shares, compared to its average volume of 1,201,352. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. The business’s 50-day simple moving average is $57.70 and its two-hundred day simple moving average is $55.47. BellRing Brands, Inc. has a 52-week low of $34.58 and a 52-week high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. The business had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $467.22 million. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. As a group, equities research analysts anticipate that BellRing Brands, Inc. will post 1.78 EPS for the current year.

Insiders Place Their Bets

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total value of $902,250.00. Following the transaction, the chairman now directly owns 215,054 shares of the company’s stock, valued at $12,935,498.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BRBR. Mizuho increased their price objective on BellRing Brands from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley increased their target price on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Barclays increased their target price on BellRing Brands from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. TD Cowen increased their price objective on BellRing Brands from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Stephens reaffirmed an “equal weight” rating and set a $53.00 price objective on shares of BellRing Brands in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.23.

BellRing Brands Profile

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