Federated Hermes Inc. Has $64.30 Million Stake in BellRing Brands Inc. (NYSE:BRBR)

Federated Hermes Inc. lifted its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 33.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863,588 shares of the company's stock after purchasing an additional 218,157 shares during the quarter. Federated Hermes Inc. owned about 0.67% of BellRing Brands worth $64,303,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in shares of BellRing Brands by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock valued at $344,885,000 after buying an additional 96,991 shares during the last quarter. Invesco Ltd. raised its stake in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after buying an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock valued at $275,413,000 after buying an additional 898,885 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of BellRing Brands by 32.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock valued at $174,866,000 after buying an additional 564,342 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock valued at $171,663,000 after buying an additional 1,685,525 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Mizuho reduced their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. UBS Group reduced their price objective on BellRing Brands from $71.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Jefferies Financial Group lifted their price objective on BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Evercore ISI cut their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial cut their price target on BellRing Brands from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, BellRing Brands has an average rating of "Moderate Buy" and a consensus target price of $76.06.

Insider Buying and Selling

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $54.43, for a total value of $87,088.00. Following the completion of the sale, the chief executive officer owned 195,578 shares in the company, valued at $10,645,310.54. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 12,800 shares of company stock valued at $749,536. Company insiders own 1.07% of the company's stock.

BellRing Brands Trading Down 0.8%

BRBR stock traded down $0.46 during trading on Friday, reaching $54.12. The stock had a trading volume of 2,276,940 shares, compared to its average volume of 2,388,522. BellRing Brands Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The company has a market capitalization of $6.87 billion, a P/E ratio of 25.17, a PEG ratio of 1.77 and a beta of 0.72. The firm has a fifty day moving average price of $58.69 and a 200 day moving average price of $67.65.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Sell-side analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current year.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.