Janus Henderson Group PLC Sells 1,035,587 Shares of BellRing Brands Inc. $BRBR

Janus Henderson Group PLC cut its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 81.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 239,540 shares of the company’s stock after selling 1,035,587 shares during the period. Janus Henderson Group PLC’s holdings in BellRing Brands were worth $3,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in BellRing Brands by 20.2% during the first 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 during the period. Caxton Associates LLP purchased a new stake in shares of BellRing Brands in the 1st quarter valued at about $278,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of BellRing Brands by 42.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock valued at $72,000 after acquiring an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of BellRing Brands by 89.9% during the 2nd 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 during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of BellRing Brands by 4.2% during the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after purchasing an additional 9,179 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

Shares of BRBR stock opened at $11.55 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 8.13, a P/E/G ratio of 6.79 and a beta of 0.45. BellRing Brands Inc. has a 1-year low of $7.82 and a 1-year high of $43.02. The business has a 50-day moving average of $11.46 and a 200 day moving average of $14.82.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.07). The company had revenue of $570.40 million during the quarter, compared to analysts’ expectations of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%.BellRing Brands’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Analysts anticipate that BellRing Brands Inc. will post 1.07 EPS for the current year.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research analyst reports. UBS Group lifted their target price on shares of BellRing Brands from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. upped their target price on shares of BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Sanford C. Bernstein downgraded BellRing Brands from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $35.00 to $11.00 in a research report on Wednesday, May 6th. TD Cowen upped their price objective on BellRing Brands from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, BTIG Research assumed coverage on BellRing Brands in a report on Monday, April 13th. They set a “neutral” rating on the stock. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BellRing Brands has an average rating of “Hold” and an average price target of $19.82.

Insider Buying and Selling

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

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.