Penserra Capital Management LLC Takes Position in BellRing Brands Inc. (NYSE:BRBR)

Penserra Capital Management LLC bought a new stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,405 shares of the company's stock, valued at approximately $327,000.

Several other large investors have also modified their holdings of the business. Steward Partners Investment Advisory LLC raised its stake in BellRing Brands by 18.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,111 shares of the company's stock worth $159,000 after buying an additional 332 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in BellRing Brands in the 4th quarter worth $4,660,000. Raymond James Financial Inc. purchased a new position in BellRing Brands in the 4th quarter worth $18,356,000. Amundi purchased a new position in BellRing Brands in the 4th quarter worth $5,094,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BellRing Brands by 25.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,329 shares of the company's stock worth $2,662,000 after acquiring an additional 7,162 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Price Performance

BellRing Brands stock traded down $0.43 during midday trading on Friday, reaching $57.86. The company had a trading volume of 1,250,206 shares, compared to its average volume of 1,398,547. The company has a market capitalization of $7.35 billion, a P/E ratio of 26.82, a P/E/G ratio of 1.82 and a beta of 0.70. BellRing Brands Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm's fifty day simple moving average is $61.25 and its 200-day simple moving average is $69.47.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period last year, the company posted $0.45 EPS. BellRing Brands's quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $57.45, for a total value of $91,920.00. Following the transaction, the chief executive officer directly owned 200,378 shares of the company's stock, valued at $11,511,716.10. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $477,872. Company insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group cut their price target on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. Truist Financial cut their price target on BellRing Brands from $65.00 to $60.00 and set a "hold" rating on the stock in a research report on Wednesday, July 2nd. Finally, DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, BellRing Brands presently has an average rating of "Moderate Buy" and an average price target of $76.69.

BellRing Brands Company Profile

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.