Principal Financial Group Inc. Acquires 397,131 Shares of BellRing Brands Inc. $BRBR

Key Points

• Principal Financial Group increased its BellRing Brands stake by 39.5% in the fourth quarter, buying 397,131 additional shares and bringing its total to 1,402,572 shares worth about $37.5 million.
• Wall Street sentiment is mixed: analysts now have a consensus rating of “Hold” on BRBR, with several firms cutting price targets sharply, including Sanford C. Bernstein lowering its target from $35 to $11.
• BellRing posted weaker-than-expected earnings, reporting $0.14 EPS versus the $0.31 estimate and revenue of $598.7 million versus expectations of $608.9 million, even though sales still rose 1.8% year over year.

Principal Financial Group Inc. raised its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 39.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,402,572 shares of the company's stock after acquiring an additional 397,131 shares during the period. Principal Financial Group Inc. owned approximately 1.17% of BellRing Brands worth $37,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BRBR. Capital Research Global Investors acquired a new position in shares of BellRing Brands in the 3rd quarter valued at $172,312,000. Alyeska Investment Group L.P. acquired a new position in shares of BellRing Brands in the 3rd quarter valued at $98,944,000. AQR Capital Management LLC grew its holdings in shares of BellRing Brands by 253.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,748,812 shares of the company's stock valued at $136,269,000 after buying an additional 2,689,664 shares during the period. Wasatch Advisors LP grew its holdings in shares of BellRing Brands by 30.5% in the 3rd quarter. Wasatch Advisors LP now owns 6,750,018 shares of the company's stock valued at $245,363,000 after buying an additional 1,575,812 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of BellRing Brands in the 3rd quarter valued at $49,584,000. Institutional investors own 94.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $31.00 price target on shares of BellRing Brands in a report on Monday, January 26th. Jefferies Financial Group decreased their price target on shares of BellRing Brands from $38.00 to $28.00 and set a "buy" rating for the company in a report on Monday, March 16th. Sanford C. Bernstein lowered shares of BellRing Brands from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $35.00 to $11.00 in a report on Wednesday. Mizuho decreased their price target on shares of BellRing Brands from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. Finally, Bank of America decreased their price target on shares of BellRing Brands from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $23.73.

Insider Buying and Selling

In related news, Director David Isaiah Finkelstein acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average cost of $17.75 per share, with a total value of $35,500.00. Following the transaction, the director owned 7,391 shares of the company's stock, valued at $131,190.25. The trade was a 37.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company's stock.

BellRing Brands Trading Down 1.1%

BRBR opened at $10.34 on Friday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 8.02, a P/E/G ratio of 4.70 and a beta of 0.74. BellRing Brands Inc. has a 12 month low of $9.22 and a 12 month high of $67.00. The firm's fifty day simple moving average is $16.33 and its 200 day simple moving average is $23.17.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.17). The company had revenue of $598.70 million during the quarter, compared to the consensus estimate of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The company's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

About BellRing Brands

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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