Hsbc Holdings PLC Sells 147,818 Shares of BellRing Brands Inc. $BRBR

Key Points

• Hsbc Holdings PLC sharply reduced its BellRing Brands stake by 92.1% in the fourth quarter, selling 147,818 shares and leaving it with 12,637 shares worth about $340,000.
• Other institutional investors were active in BRBR as well, with some adding shares while 94.97% of the stock is still held by institutions.
• BellRing Brands recently reported mixed earnings, posting $0.14 EPS versus the $0.31 estimate and revenue of $598.7 million versus expectations of $608.9 million; analysts currently rate the stock a Hold with a consensus target price of $20.57.

Hsbc Holdings PLC cut its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 92.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,637 shares of the company's stock after selling 147,818 shares during the quarter. Hsbc Holdings PLC's holdings in BellRing Brands were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRBR. Rockefeller Capital Management L.P. grew its position in BellRing Brands by 273.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,457 shares of the company's stock valued at $146,000 after buying an additional 3,996 shares during the period. River Road Asset Management LLC bought a new stake in BellRing Brands in the fourth quarter worth about $56,465,000. Pacer Advisors Inc. boosted its stake in BellRing Brands by 57.8% in the fourth quarter. Pacer Advisors Inc. now owns 26,529 shares of the company's stock valued at $709,000 after acquiring an additional 9,719 shares during the last quarter. Alberta Investment Management Corp purchased a new position in BellRing Brands in the fourth quarter valued at about $1,195,000. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of BellRing Brands by 111.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 47,744 shares of the company's stock valued at $1,276,000 after acquiring an additional 25,140 shares during the period. 94.97% of the stock is currently owned by institutional investors.

Insider Activity at BellRing Brands

In related news, Director David Isaiah Finkelstein purchased 4,000 shares of BellRing Brands stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the transaction, the director owned 13,326 shares in the company, valued at $122,998.98. This trade represents a 42.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

BellRing Brands Trading Up 1.2%

Shares of BRBR stock opened at $12.14 on Friday. The firm's 50 day moving average is $10.34 and its 200 day moving average is $16.09. The stock has a market capitalization of $1.41 billion, a P/E ratio of 9.41, a PEG ratio of 5.90 and a beta of 0.45. BellRing Brands Inc. has a 12 month low of $7.82 and a 12 month high of $59.10.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.17). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business had revenue of $598.70 million during the quarter, compared to analysts' expectations of $608.88 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that BellRing Brands Inc. will post 1.22 EPS for the current year.

Analyst Ratings Changes

BRBR has been the topic of a number of research reports. DA Davidson raised shares of BellRing Brands to a "strong-buy" rating in a report on Monday, July 6th. Stephens reissued an "overweight" rating and set a $20.00 price objective on shares of BellRing Brands in a report on Thursday, July 9th. TD Cowen decreased their target price on BellRing Brands from $17.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus dropped their price target on BellRing Brands from $34.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein lowered BellRing Brands from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $35.00 to $11.00 in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.57.

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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