Bank of America Corp DE Acquires 250,144 Shares of BellRing Brands Inc. $BRBR

Key Points

• Bank of America increased its BellRing Brands stake by 25% in the first quarter, adding 250,144 shares to own 1.25 million shares valued at approximately $20.1 million. Institutional investors collectively hold 94.97% of BRBR.
• BellRing Brands reported quarterly EPS of $0.30, missing the $0.37 consensus estimate, while revenue of $570.4 million exceeded expectations and rose 4.2% year over year.
• Analyst sentiment remains mixed but leans positive, with a consensus “Hold” rating and an average price target of $19.82. Recent targets range from $15 to $20, despite the stock trading near $10.38.

Bank of America Corp DE raised its stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 25.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,248,761 shares of the company's stock after purchasing an additional 250,144 shares during the quarter. Bank of America Corp DE owned 1.07% of BellRing Brands worth $20,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BRBR. Arkadios Wealth Advisors bought a new position in shares of BellRing Brands during the 1st quarter worth approximately $206,000. Amundi boosted its stake in BellRing Brands by 106.4% in the 1st quarter. Amundi now owns 2,255,734 shares of the company's stock valued at $36,295,000 after buying an additional 1,162,996 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in BellRing Brands by 67.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,488 shares of the company's stock valued at $72,000 after acquiring an additional 1,809 shares during the period. California State Teachers Retirement System grew its position in BellRing Brands by 12.2% in the first quarter. California State Teachers Retirement System now owns 133,783 shares of the company's stock valued at $2,153,000 after acquiring an additional 14,576 shares during the period. Finally, Quantinno Capital Management LP grew its position in BellRing Brands by 110.1% in the first quarter. Quantinno Capital Management LP now owns 130,195 shares of the company's stock valued at $2,095,000 after acquiring an additional 68,223 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 1.9%

BellRing Brands stock opened at $10.38 on Wednesday. The stock has a 50-day simple moving average of $11.77 and a 200 day simple moving average of $13.98. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 6.30 and a beta of 0.45. BellRing Brands Inc. has a 12-month low of $7.82 and a 12-month high of $43.02.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.07). The company had revenue of $570.40 million for the quarter, compared to the consensus estimate of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%.The firm's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. As a group, sell-side analysts anticipate that BellRing Brands Inc. will post 1.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BRBR. Stifel Nicolaus upped their target price on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Stephens reissued an "overweight" rating and set a $20.00 price target on shares of BellRing Brands in a report on Thursday, July 9th. DA Davidson upped their price objective on shares of BellRing Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Zacks Research raised shares of BellRing Brands from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of BellRing Brands in a research note on Friday, July 10th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.82.

BellRing Brands Company 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.

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