Kornitzer Capital Management Inc. KS Has $10.45 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Kornitzer Capital Management Inc. KS increased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 444.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 188,480 shares of the company's stock after purchasing an additional 153,865 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.14% of BellRing Brands worth $10,447,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BRBR. Arizona State Retirement System increased its stake in BellRing Brands by 0.8% during the third quarter. Arizona State Retirement System now owns 37,813 shares of the company's stock valued at $1,559,000 after acquiring an additional 295 shares during the period. Allworth Financial LP increased its stake in BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company's stock valued at $42,000 after acquiring an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in BellRing Brands by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company's stock valued at $2,835,000 after acquiring an additional 494 shares during the period. Parkside Financial Bank & Trust increased its stake in BellRing Brands by 108.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,224 shares of the company's stock valued at $50,000 after acquiring an additional 636 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its stake in BellRing Brands by 2.7% during the third quarter. SeaBridge Investment Advisors LLC now owns 24,484 shares of the company's stock valued at $1,009,000 after acquiring an additional 638 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Price Performance

Shares of BRBR stock traded down $0.25 during trading hours on Friday, reaching $53.98. The company had a trading volume of 994,201 shares, compared to its average volume of 894,209. The company has a 50 day moving average of $57.93 and a 200 day moving average of $53.18. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 2.06 and a beta of 0.83. BellRing Brands, Inc. has a 1-year low of $34.58 and a 1-year high of $62.76.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $430.40 million for the quarter, compared to the consensus estimate of $407.91 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 1.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BRBR shares. Stifel Nicolaus upped their price objective on BellRing Brands from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. Citigroup began coverage on BellRing Brands in a research note on Thursday, February 1st. They issued a "buy" rating and a $67.00 price objective on the stock. Mizuho upped their price objective on BellRing Brands from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, January 18th. Truist Financial downgraded BellRing Brands from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $55.00 to $50.00 in a report on Wednesday, January 3rd. Finally, Morgan Stanley upped their price objective on BellRing Brands from $61.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.08.

Insider Activity

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the transaction, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently owned by company insiders.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.