BellRing Brands Inc. $BRBR Stock: Iridian Asset Management LLC CT Boosts Holdings

Key Points

• Iridian Asset Management increased its BellRing Brands holdings by 56% in the third quarter, reaching 444,504 shares valued at approximately $3.4 million. Institutional investors and hedge funds collectively own 94.97% of the company.
• BellRing Brands shares opened at $9.54, with a market capitalization of about $1.11 billion and a 52-week range of $7.33 to $33.56. The company’s latest quarterly revenue rose 4.2% year over year to $570.4 million, but EPS of $0.30 missed estimates of $0.37.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $18.70, despite recent downgrades from some firms and bullish ratings from others.

Iridian Asset Management LLC CT grew its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 56.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,504 shares of the company's stock after buying an additional 159,575 shares during the quarter. BellRing Brands makes up 1.2% of Iridian Asset Management LLC CT's portfolio, making the stock its 22nd largest position. Iridian Asset Management LLC CT owned about 0.38% of BellRing Brands worth $3,418,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of BellRing Brands in the second quarter valued at $42,868,000. Amundi lifted its stake in BellRing Brands by 106.4% in the first quarter. Amundi now owns 2,255,734 shares of the company's stock valued at $36,295,000 after acquiring an additional 1,162,996 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in BellRing Brands by 0.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,342,471 shares of the company's stock valued at $21,600,000 after acquiring an additional 5,671 shares during the last quarter. Bank of America Corp DE lifted its stake in BellRing Brands by 25.0% in the first quarter. Bank of America Corp DE now owns 1,248,761 shares of the company's stock valued at $20,093,000 after acquiring an additional 250,144 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC grew its holdings in BellRing Brands by 55.8% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,084,423 shares of the company's stock worth $8,339,000 after purchasing an additional 388,319 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $9.54 on Friday. The company has a fifty day moving average of $9.26 and a 200-day moving average of $11.03. The company has a market capitalization of $1.11 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 4.45 and a beta of 0.43. BellRing Brands Inc. has a 52-week low of $7.33 and a 52-week high of $33.56.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BRBR shares. Barclays reduced their price objective on BellRing Brands from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of BellRing Brands in a research note on Thursday, July 9th. UBS Group set a $9.50 target price on shares of BellRing Brands in a report on Thursday, October 15th. Weiss Ratings reissued a "sell (d)" rating on shares of BellRing Brands in a report on Tuesday, October 6th. Finally, Zacks Research cut shares of BellRing Brands from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 14th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.70.

About BellRing Brands

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.

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