Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in BellRing Brands Inc. $BRBR

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in BellRing Brands Inc. (NYSE:BRBR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,312,830 shares of the company’s stock, valued at approximately $42,868,000.

A number of other hedge funds have also made changes to their positions in BRBR. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BellRing Brands by 42.6% during 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. Treasurer of the State of North Carolina increased its holdings in BellRing Brands by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 59,286 shares of the company’s stock valued at $3,434,000 after purchasing an additional 456 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in BellRing Brands by 9.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,318 shares of the company’s stock valued at $308,000 after purchasing an additional 467 shares in the last quarter. Larson Financial Group LLC raised its position in BellRing Brands by 128.7% in the fourth quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock valued at $25,000 after purchasing an additional 524 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in BellRing Brands by 5.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,599 shares of the company’s stock valued at $257,000 after purchasing an additional 536 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BRBR. TD Cowen boosted their price objective on BellRing Brands from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Zacks Research upgraded BellRing Brands from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Stephens reiterated an “overweight” rating and set a $20.00 target price on shares of BellRing Brands in a report on Thursday, July 9th. UBS Group boosted their price target on BellRing Brands from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Stifel Nicolaus upped their price target on BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.82.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $10.74 on Monday. BellRing Brands Inc. has a 1-year low of $7.82 and a 1-year high of $43.02. The company has a market capitalization of $1.25 billion, a PE ratio of 7.57, a P/E/G ratio of 6.30 and a beta of 0.45. The business has a 50-day moving average of $11.68 and a 200-day moving average of $14.19.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.07). The business had revenue of $570.40 million during the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%.The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. On average, equities analysts expect that BellRing Brands Inc. will post 1.03 earnings per share for the current fiscal year.

BellRing Brands Company 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.