Principal Financial Group Inc. Boosts Stake in BellRing Brands, Inc. (NYSE:BRBR)

Principal Financial Group Inc. raised its holdings in BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 4.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 555,475 shares of the company’s stock after purchasing an additional 23,352 shares during the period. Principal Financial Group Inc.’s holdings in BellRing Brands were worth $14,242,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of BellRing Brands in the first quarter valued at $31,000. Belpointe Asset Management LLC acquired a new stake in shares of BellRing Brands in the fourth quarter valued at $34,000. Macquarie Group Ltd. grew its stake in shares of BellRing Brands by 70.7% in the second quarter. Macquarie Group Ltd. now owns 2,900 shares of the company’s stock valued at $72,000 after buying an additional 1,201 shares in the last quarter. Captrust Financial Advisors grew its stake in BellRing Brands by 1,612.5% during the 1st quarter. Captrust Financial Advisors now owns 3,288 shares of the company’s stock worth $76,000 after purchasing an additional 3,096 shares in the last quarter. Finally, First Manhattan Co. acquired a new position in BellRing Brands during the 1st quarter worth $76,000. 92.40% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $36.10 on Thursday. The stock has a market cap of $4.79 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. The business’s fifty day moving average price is $34.62 and its two-hundred day moving average price is $29.82. BellRing Brands, Inc. has a one year low of $20.20 and a one year high of $37.55.

BellRing Brands (NYSE:BRBR – Get Rating) last announced its earnings results on Monday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $385.60 million during the quarter, compared to the consensus estimate of $371.26 million. BellRing Brands had a negative return on equity of 42.81% and a net margin of 9.87%. The company’s revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. As a group, equities research analysts predict that BellRing Brands, Inc. will post 1.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $35.82, for a total value of $537,300.00. Following the completion of the transaction, the chairman now directly owns 230,054 shares in the company, valued at $8,240,534.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BRBR. William Blair began coverage on BellRing Brands in a research note on Wednesday, April 26th. They set an “outperform” rating for the company. Bank of America boosted their target price on BellRing Brands from $35.00 to $41.00 in a research note on Tuesday, May 9th. Barclays upped their price objective on BellRing Brands from $38.00 to $41.00 in a research report on Thursday, May 11th. Needham & Company LLC upped their price objective on BellRing Brands from $40.00 to $44.00 in a research report on Wednesday, May 10th. Finally, Jefferies Financial Group upped their price objective on BellRing Brands from $38.00 to $42.00 in a research report on Friday, April 28th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $40.15.

About BellRing Brands

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