Royal Bank of Canada Has $449,000 Holdings in BellRing Brands Inc. $BRBR

Key Points

• Royal Bank of Canada cut its BellRing Brands stake by 82.1% in the first quarter, selling 127,906 shares and retaining 27,940 shares valued at approximately $449,000. Institutional investors collectively own 94.97% of the company.
• BellRing Brands shares opened at $10.75, near the lower end of their 12-month range of $7.82 to $43.02. The company missed quarterly EPS estimates, reporting $0.30 versus the $0.37 consensus, although revenue rose 4.2% year over year to $570.4 million.
• Analyst sentiment remains mixed, with nine Buy, eight Hold and one Sell rating. The consensus rating is Hold, with an average price target of $19.82.

Royal Bank of Canada decreased its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 82.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,940 shares of the company's stock after selling 127,906 shares during the quarter. Royal Bank of Canada's holdings in BellRing Brands were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

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

BellRing Brands Stock Down 0.9%

NYSE BRBR opened at $10.75 on Wednesday. The company has a market capitalization of $1.25 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 6.36 and a beta of 0.45. BellRing Brands Inc. has a 12-month low of $7.82 and a 12-month high of $43.02. The firm's 50 day moving average is $11.95 and its 200-day moving average is $13.54.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.07). BellRing Brands had a net margin of 7.28% and a negative return on equity of 33.04%. The business had revenue of $570.40 million during the quarter, compared to analyst estimates of $548.72 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The firm's quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that BellRing Brands Inc. will post 1.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $13.00 price target (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BellRing Brands in a research note on Friday, July 10th. Stephens reiterated an "overweight" rating and set a $20.00 target price on shares of BellRing Brands in a report on Thursday, July 9th. TD Cowen boosted their target price on BellRing Brands from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, Barclays increased their price target on BellRing Brands from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.82.

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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