Tabor Asset Management LP Takes Position in BellRing Brands Inc. $BRBR

Tabor Asset Management LP bought a new position in shares of BellRing Brands Inc. (NYSE:BRBR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,105 shares of the company’s stock, valued at approximately $1,349,000.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of BellRing Brands by 22.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,743 shares of the company’s stock valued at $101,000 after purchasing an additional 325 shares during the last quarter. 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 valued at $72,000 after buying an additional 373 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of BellRing Brands by 0.6% in the 2nd quarter. New York State Common Retirement Fund now owns 70,210 shares of the company’s stock worth $4,067,000 after acquiring an additional 397 shares during the last quarter. Dorsey Wright & Associates increased its stake in shares of BellRing Brands by 0.8% in the 2nd quarter. Dorsey Wright & Associates now owns 51,969 shares of the company’s stock worth $3,011,000 after acquiring an additional 401 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of BellRing Brands by 132.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after acquiring an additional 419 shares during the period. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BRBR shares. Stifel Nicolaus dropped their price target on shares of BellRing Brands from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price objective on shares of BellRing Brands in a report on Monday, January 26th. Mizuho reduced their price target on BellRing Brands from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Evercore reduced their price objective on shares of BellRing Brands from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Finally, TD Cowen reissued a “hold” rating on shares of BellRing Brands in a research report on Thursday, January 8th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.50.

BellRing Brands Trading Down 5.3%

Shares of BRBR stock opened at $16.46 on Tuesday. The stock has a 50 day simple moving average of $21.78 and a 200-day simple moving average of $29.25. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 3.42 and a beta of 0.69. BellRing Brands Inc. has a 12-month low of $16.05 and a 12-month high of $79.57.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The firm had revenue of $537.30 million for the quarter, compared to the consensus estimate of $505.44 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share 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.