Nuveen LLC Makes New Investment in BellRing Brands Inc. $BRBR

Key Points

• Nuveen LLC invested approximately $71 million in BellRing Brands Inc. during the first quarter, acquiring 953,586 shares.
• Analysts are optimistic about BellRing Brands, with an average target price of $67.86 and the majority rating it as a "buy."
• BellRing Brands reported a quarterly earnings per share (EPS) of $0.55, surpassing analysts' expectations and showing a 6.2% year-over-year increase in revenue.

Nuveen LLC bought a new stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 953,586 shares of the company's stock, valued at approximately $71,004,000. Nuveen LLC owned approximately 0.74% of BellRing Brands at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in BellRing Brands during the first quarter worth approximately $280,000. GAMMA Investing LLC lifted its holdings in BellRing Brands by 12.2% during the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock valued at $172,000 after purchasing an additional 252 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of BellRing Brands by 0.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 72,051 shares of the company's stock valued at $5,365,000 after purchasing an additional 438 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of BellRing Brands by 71.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,883 shares of the company's stock worth $661,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of BellRing Brands by 31.6% in the first quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company's stock valued at $1,384,000 after acquiring an additional 4,461 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 0.2%

NYSE BRBR traded up $0.06 during trading on Monday, reaching $38.42. The company's stock had a trading volume of 1,042,150 shares, compared to its average volume of 2,097,768. The stock has a market capitalization of $4.84 billion, a PE ratio of 21.96, a PEG ratio of 1.88 and a beta of 0.72. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67. The business has a 50-day moving average price of $54.33 and a 200-day moving average price of $65.03.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.49 by $0.06. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $530.76 million. During the same period in the previous year, the business posted $0.54 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

Wall Street Analyst Weigh In

BRBR has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Barclays reduced their target price on shares of BellRing Brands from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Evercore ISI lowered their price target on shares of BellRing Brands from $82.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Stephens raised shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $68.00 to $50.00 in a research report on Wednesday, August 6th. Finally, Citigroup decreased their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and an average target price of $67.86.

Insiders Place Their Bets

In other BellRing Brands news, Director Shawn Conway bought 2,700 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $36.41 per share, with a total value of $98,307.00. Following the completion of the transaction, the director owned 6,685 shares in the company, valued at approximately $243,400.85. This trade represents a 67.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig L. Rosenthal bought 2,600 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the transaction, the insider owned 33,475 shares of the company's stock, valued at $1,248,282.75. The trade was a 8.42% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 6,616 shares of company stock worth $65,995,248 and have sold 14,400 shares worth $836,224. Company insiders own 1.07% of the company's stock.

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.