Principal Financial Group Inc. Sells 142,254 Shares of BellRing Brands Inc. $BRBR

Key Points

• Principal Financial Group trimmed its BellRing Brands stake by 10.1% in the first quarter, selling 142,254 shares and leaving it with 1,260,318 shares worth about $20.3 million.
• BellRing Brands reported weaker-than-expected quarterly results, with EPS of $0.14 versus the $0.31 estimate and revenue of $598.7 million slightly below forecasts, though sales still rose 1.8% year over year.
• Sentiment remains mixed: a director recently bought shares, but analysts currently rate the stock Hold on average, with a consensus price target of $20.63 despite recent target cuts and upgrades.

Principal Financial Group Inc. cut its position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,260,318 shares of the company's stock after selling 142,254 shares during the quarter. Principal Financial Group Inc. owned approximately 1.07% of BellRing Brands worth $20,279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRBR. Northwestern Mutual Wealth Management Co. raised its stake in shares of BellRing Brands by 42.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company's stock worth $72,000 after purchasing an additional 373 shares during the period. Treasurer of the State of North Carolina grew its position in BellRing Brands by 0.8% during the second quarter. Treasurer of the State of North Carolina now owns 59,286 shares of the company's stock valued at $3,434,000 after buying an additional 456 shares during the period. Tower Research Capital LLC TRC increased its holdings in BellRing Brands by 9.6% during the second quarter. Tower Research Capital LLC TRC now owns 5,318 shares of the company's stock worth $308,000 after buying an additional 467 shares during the last quarter. Larson Financial Group LLC increased its holdings in BellRing Brands by 128.7% during the fourth quarter. Larson Financial Group LLC now owns 931 shares of the company's stock worth $25,000 after buying an additional 524 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in BellRing Brands by 5.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,599 shares of the company's stock worth $257,000 after acquiring an additional 536 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Price Performance

NYSE:BRBR opened at $12.73 on Wednesday. The company has a market cap of $1.48 billion, a P/E ratio of 9.87, a P/E/G ratio of 5.98 and a beta of 0.45. The stock's fifty day moving average price is $10.46 and its two-hundred day moving average price is $15.81. BellRing Brands Inc. has a 1 year low of $7.82 and a 1 year high of $57.82.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $598.70 million during the quarter, compared to analysts' expectations of $608.88 million. During the same quarter last year, the firm posted $0.53 earnings per share. BellRing Brands's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that BellRing Brands Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Isaiah Finkelstein bought 4,000 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BRBR has been the topic of a number of research analyst reports. Zacks Research upgraded shares of BellRing Brands from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Barclays lifted their price target on shares of BellRing Brands from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on BellRing Brands from $21.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. BTIG Research began coverage on BellRing Brands in a report on Monday, April 13th. They issued a "neutral" rating for the company. Finally, Stephens reiterated an "overweight" rating and set a $20.00 target price on shares of BellRing Brands in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Hold" and an average target price of $20.63.

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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