SG Americas Securities LLC Has $9.76 Million Position in BellRing Brands Inc. $BRBR

Key Points

• SG Americas Securities LLC increased its BellRing Brands stake by 115.9% in the first quarter, ending with 606,604 shares valued at about $9.76 million. Institutional investors and hedge funds now own 94.97% of the company.
• BellRing Brands reported weaker-than-expected quarterly results, posting EPS of $0.14 versus the $0.31 consensus and revenue of $598.7 million versus estimates of $608.88 million. Despite this, revenue rose 1.8% year over year, and analysts still expect full-year EPS of 1.23.
• Analysts have turned more cautious on the stock, with several lowering price targets; the consensus rating is now Hold with an average target price of $22.47. Meanwhile, director David Isaiah Finkelstein bought 4,000 shares, increasing his holdings by 42.89%.

SG Americas Securities LLC boosted its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 115.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 606,604 shares of the company's stock after acquiring an additional 325,697 shares during the period. SG Americas Securities LLC owned 0.52% of BellRing Brands worth $9,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its holdings in shares of BellRing Brands by 331.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,336,800 shares of the company's stock worth $35,733,000 after acquiring an additional 1,026,921 shares during the period. Boothbay Fund Management LLC grew its position in shares of BellRing Brands by 1,954.2% in the third quarter. Boothbay Fund Management LLC now owns 206,718 shares of the company's stock valued at $7,514,000 after purchasing an additional 196,655 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of BellRing Brands by 17.0% during the third quarter. William Blair Investment Management LLC now owns 2,520,053 shares of the company's stock worth $91,604,000 after purchasing an additional 366,121 shares during the period. E. Ohman J or Asset Management AB increased its stake in shares of BellRing Brands by 27.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 711,625 shares of the company's stock worth $19,022,000 after purchasing an additional 151,990 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in BellRing Brands by 55.2% during the 4th quarter. Retirement Systems of Alabama now owns 538,946 shares of the company's stock worth $14,406,000 after purchasing an additional 191,638 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Price Performance

Shares of NYSE:BRBR opened at $11.54 on Friday. The business's 50 day simple moving average is $11.01 and its 200 day simple moving average is $17.96. BellRing Brands Inc. has a 1 year low of $7.82 and a 1 year high of $59.45. The company has a market capitalization of $1.34 billion, a P/E ratio of 8.95, a P/E/G ratio of 5.67 and a beta of 0.56.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. BellRing Brands's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, sell-side analysts anticipate that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

Insider Activity at BellRing Brands

In related news, Director David Isaiah Finkelstein purchased 4,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, with a total value of $36,920.00. Following the completion of 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. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on BellRing Brands from $34.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. BTIG Research started coverage on BellRing Brands in a research report on Monday, April 13th. They set a "neutral" rating on the stock. Jefferies Financial Group dropped their target price on BellRing Brands from $38.00 to $28.00 and set a "buy" rating for the company in a report on Monday, March 16th. Mizuho reduced their target price on shares of BellRing Brands from $40.00 to $34.00 and set an "outperform" rating for the company in a research 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 on the stock in a research note on Friday, April 10th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $22.47.

BellRing Brands 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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