BellRing Brands Inc. $BRBR Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its BellRing Brands stake by 33.9% in the second quarter, selling 455,494 shares and retaining 886,977 shares valued at approximately $11.5 million. Institutional investors collectively own 94.97% of BRBR.
• Analyst sentiment is mixed but includes several recent upgrades: DA Davidson and Stifel rated the stock “buy,” while JPMorgan assigned an “overweight” rating. Overall, nine analysts rate BRBR a Buy, eight a Hold, and one a Sell.
• BellRing reported quarterly revenue of $570.4 million, exceeding estimates, but earnings per share of $0.30 fell short of the $0.37 consensus. Shares opened at $11.42, near the lower end of their 12-month range.

Assenagon Asset Management S.A. decreased its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 33.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 886,977 shares of the company's stock after selling 455,494 shares during the quarter. Assenagon Asset Management S.A. owned 0.76% of BellRing Brands worth $11,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BRBR. BNP Paribas Financial Markets raised its stake in BellRing Brands by 125.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,964,321 shares of the company's stock worth $52,506,000 after acquiring an additional 1,092,328 shares during the period. Y Intercept Hong Kong Ltd grew its stake in BellRing Brands by 154.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 444,048 shares of the company's stock worth $7,145,000 after buying an additional 269,644 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of BellRing Brands by 5.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,127,834 shares of the company's stock valued at $30,147,000 after acquiring an additional 60,005 shares during the period. River Road Asset Management LLC acquired a new position in shares of BellRing Brands during the fourth quarter valued at $56,465,000. Finally, Principal Financial Group Inc. grew its position in shares of BellRing Brands by 39.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,402,572 shares of the company's stock worth $37,491,000 after acquiring an additional 397,131 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

BRBR has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of BellRing Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of BellRing Brands from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. TD Cowen boosted their price target on BellRing Brands from $11.00 to $12.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings restated a "sell (d)" rating on shares of BellRing Brands in a research note on Friday, July 10th. Finally, Stifel Nicolaus upped their price objective 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. 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.82.

BellRing Brands Price Performance

BRBR stock opened at $11.42 on Tuesday. The firm has a market cap of $1.33 billion, a PE ratio of 8.04, a P/E/G ratio of 6.78 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. The firm has a 50 day simple moving average of $11.51 and a 200 day simple moving average of $14.65.

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

Insider Activity at BellRing Brands

In related news, Director David Isaiah Finkelstein purchased 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the transaction, the director directly owned 13,326 shares of the company's stock, valued at $122,998.98. This trade represents a 42.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

About BellRing Brands

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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