Fifth Third Bancorp Boosts Stock Position in BellRing Brands Inc. $BRBR

Fifth Third Bancorp grew its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 7,817.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 93,112 shares of the company’s stock after acquiring an additional 91,936 shares during the period. Fifth Third Bancorp’s holdings in BellRing Brands were worth $1,498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its position 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 purchasing an additional 1,026,921 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of BellRing Brands by 55.2% in the fourth quarter. Retirement Systems of Alabama now owns 538,946 shares of the company’s stock valued at $14,406,000 after purchasing an additional 191,638 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of BellRing Brands by 125.3% in the fourth quarter. BNP Paribas Financial Markets now owns 1,964,321 shares of the company’s stock valued at $52,506,000 after purchasing an additional 1,092,328 shares during the last quarter. SG Americas Securities LLC lifted its position in BellRing Brands by 8,637.4% during the fourth quarter. SG Americas Securities LLC now owns 280,907 shares of the company’s stock worth $7,509,000 after buying an additional 277,692 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in BellRing Brands by 154.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 444,048 shares of the company’s stock worth $7,145,000 after buying an additional 269,644 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David Isaiah Finkelstein bought 4,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $9.23 per share, with a total value of $36,920.00. Following the transaction, the director directly owned 13,326 shares in the company, valued at $122,998.98. The trade was a 42.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

BellRing Brands Stock Performance

NYSE:BRBR opened at $12.88 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 9.98, a PEG ratio of 6.28 and a beta of 0.45. The company has a 50 day moving average price of $10.61 and a 200 day moving average price of $15.62. BellRing Brands Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $56.69.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). BellRing Brands had a negative return on equity of 44.06% and a net margin of 6.78%.The firm had revenue of $598.70 million for the quarter, compared to analyst estimates of $608.88 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts forecast that BellRing Brands Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several analyst reports. Barclays upped their target price on BellRing Brands from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group upped their price objective on shares of BellRing Brands from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, July 16th. Zacks Research upgraded shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. BTIG Research initiated coverage on shares of BellRing Brands in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley restated an “equal weight” rating and set a $13.00 price target (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.70.

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.