Strs Ohio Lowers Holdings in BellRing Brands Inc. $BRBR

Key Points

• Strs Ohio sharply reduced its stake in BellRing Brands, cutting holdings by 98.2% in the fourth quarter to 3,009 shares worth about $80,000 after selling more than 162,000 shares.
• BellRing Brands posted a weak quarterly earnings report, with EPS of $0.14 versus the $0.31 consensus and revenue of $598.7 million, slightly below expectations.
• Analysts have turned more cautious on the stock, with multiple firms slashing price targets; the consensus rating is now “Hold” and the average target price is $23.73.

Strs Ohio lowered its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 98.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,009 shares of the company's stock after selling 162,095 shares during the quarter. Strs Ohio's holdings in BellRing Brands were worth $80,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in BellRing Brands by 20.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company's stock valued at $18,868,000 after buying an additional 42,666 shares in the last quarter. Caxton Associates LLP bought a new position in shares of BellRing Brands during the first quarter worth $278,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of BellRing Brands by 42.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company's stock worth $72,000 after acquiring an additional 373 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in BellRing Brands by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,595 shares of the company's stock valued at $92,000 after acquiring an additional 755 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in BellRing Brands by 4.2% during the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company's stock valued at $13,098,000 after acquiring an additional 9,179 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BellRing Brands

In related news, Director David Isaiah Finkelstein purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was bought at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the completion of the transaction, the director directly owned 7,391 shares in the company, valued at $131,190.25. This represents a 37.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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. Stifel Nicolaus cut their price objective on BellRing Brands from $34.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $13.00 target price (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. Barclays decreased their target price on BellRing Brands from $22.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Finally, William Blair restated an "outperform" rating on shares of BellRing Brands in a report on Tuesday, February 3rd. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, BellRing Brands presently has an average rating of "Hold" and a consensus target price of $23.73.

BellRing Brands Trading Up 1.0%

Shares of NYSE BRBR opened at $9.49 on Wednesday. BellRing Brands Inc. has a 12-month low of $9.22 and a 12-month high of $67.00. The firm's 50-day moving average price is $15.81 and its 200-day moving average price is $22.67. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 4.61 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $608.88 million. BellRing Brands had a negative return on equity of 44.06% and a net margin of 6.78%.The company's revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, equities analysts predict that BellRing Brands Inc. will post 1.23 EPS for the current fiscal year.

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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