Carlson Capital L.P. Acquires Shares of 41,000 BellRing Brands Inc. $BRBR

Carlson Capital L.P. acquired a new position in shares of BellRing Brands Inc. (NYSE:BRBR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 41,000 shares of the company’s stock, valued at approximately $660,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of BellRing Brands by 42.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock valued at $72,000 after acquiring an additional 373 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in BellRing Brands by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 59,286 shares of the company’s stock worth $3,434,000 after purchasing an additional 456 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in BellRing Brands by 9.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,318 shares of the company’s stock worth $308,000 after purchasing an additional 467 shares in the last quarter. Larson Financial Group LLC boosted 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 valued at $25,000 after purchasing an additional 524 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in BellRing Brands by 5.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,599 shares of the company’s stock valued at $257,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein acquired 4,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the transaction, the director directly owned 13,326 shares in the company, valued at approximately $122,998.98. This trade represents a 42.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

BellRing Brands Stock Down 6.0%

BRBR stock opened at $12.36 on Friday. BellRing Brands Inc. has a 12 month low of $7.82 and a 12 month high of $55.24. The firm has a market cap of $1.44 billion, a P/E ratio of 9.58, a P/E/G ratio of 6.39 and a beta of 0.45. The company’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $15.22.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Tuesday, May 5th. The company reported $0.14 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 analyst estimates of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. BellRing Brands’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities analysts predict that BellRing Brands Inc. will post 1.24 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of BellRing Brands from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. TD Cowen cut their price target on BellRing Brands from $17.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BellRing Brands in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BellRing Brands has a consensus rating of “Hold” and an average price target of $20.97.

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.