BellRing Brands (NYSE:BRBR) Hits New 52-Week Low – Here’s What Happened

BellRing Brands Inc. (NYSE:BRBR) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.05 and last traded at $8.43, with a volume of 405511 shares trading hands. The stock had previously closed at $8.77.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BRBR. Sanford C. Bernstein lowered shares of BellRing Brands from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $35.00 to $11.00 in a research note on Wednesday, May 6th. TD Cowen lowered their target price on shares of BellRing Brands from $17.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Mizuho dropped their target price on shares of BellRing Brands from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Bank of America cut their price target on shares of BellRing Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Finally, BTIG Research assumed coverage on shares of BellRing Brands in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.47.

BellRing Brands Price Performance

The firm has a market cap of $966.62 million, a price-to-earnings ratio of 6.43, a P/E/G ratio of 4.30 and a beta of 0.56. The firm’s 50 day moving average price is $12.83 and its two-hundred day moving average price is $20.05.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $598.70 million for the quarter, compared to analyst estimates of $608.88 million. During the same period in the prior year, the business earned $0.53 earnings per share. BellRing Brands’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts anticipate that BellRing Brands Inc. will post 1.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Isaiah Finkelstein acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $9.23 per share, with a total value of $36,920.00. Following the completion of the transaction, the director directly owned 13,326 shares in the company, valued at approximately $122,998.98. This represents a 42.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of BellRing Brands by 86.9% in the 4th quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock valued at $187,013,000 after acquiring an additional 3,258,035 shares during the period. Wasatch Advisors LP boosted its position in BellRing Brands by 30.5% during the 3rd quarter. Wasatch Advisors LP now owns 6,750,018 shares of the company’s stock worth $245,363,000 after purchasing an additional 1,575,812 shares during the period. Capital Research Global Investors acquired a new stake in BellRing Brands in the 3rd quarter valued at $172,312,000. The Manufacturers Life Insurance Company raised its position in BellRing Brands by 156.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock valued at $102,380,000 after purchasing an additional 2,336,029 shares during the period. Finally, Wellington Management Group LLP raised its position in BellRing Brands by 0.5% in the third quarter. Wellington Management Group LLP now owns 3,691,528 shares of the company’s stock valued at $134,187,000 after purchasing an additional 19,471 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.