Corebridge Financial Inc. Has $10.55 Million Holdings in BellRing Brands Inc. $BRBR

Corebridge Financial Inc. cut its holdings in BellRing Brands Inc. (NYSE:BRBR) by 3.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,696 shares of the company’s stock after selling 4,541 shares during the period. Corebridge Financial Inc.’s holdings in BellRing Brands were worth $10,551,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. grew its stake in shares of BellRing Brands by 0.9% in the first quarter. Xponance Inc. now owns 15,221 shares of the company’s stock valued at $1,133,000 after acquiring an additional 142 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its stake in BellRing Brands by 2.5% in the first quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company’s stock valued at $478,000 after purchasing an additional 157 shares in the last quarter. Stephens Inc. AR raised its stake in BellRing Brands by 5.0% in the first quarter. Stephens Inc. AR now owns 3,705 shares of the company’s stock valued at $276,000 after purchasing an additional 175 shares in the last quarter. TCTC Holdings LLC raised its stake in BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. Finally, Applied Finance Capital Management LLC raised its stake in BellRing Brands by 8.0% in the first quarter. Applied Finance Capital Management LLC now owns 3,290 shares of the company’s stock valued at $245,000 after purchasing an additional 244 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Shawn Conway bought 2,700 shares of the stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $36.41 per share, with a total value of $98,307.00. Following the acquisition, the director directly owned 6,685 shares in the company, valued at approximately $243,400.85. This trade represents a 67.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the completion of the transaction, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 6,616 shares of company stock valued at $65,995,248 and sold 14,400 shares valued at $836,224. Insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 2.4%

BRBR opened at $40.74 on Thursday. The company’s 50 day moving average is $50.99 and its 200-day moving average is $63.15. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67. The company has a market cap of $5.13 billion, a P/E ratio of 23.28, a PEG ratio of 1.94 and a beta of 0.72.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $530.76 million. During the same period last year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. On average, equities analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on BRBR. JPMorgan Chase & Co. began coverage on BellRing Brands in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $52.00 price target for the company. Morgan Stanley dropped their price target on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group boosted their price target on BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Mizuho dropped their price target on BellRing Brands from $75.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, August 18th. Finally, DA Davidson raised BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.80.

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.