Principal Financial Group Inc. Sells 142,254 Shares of BellRing Brands Inc. $BRBR

Principal Financial Group Inc. reduced its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260,318 shares of the company’s stock after selling 142,254 shares during the period. Principal Financial Group Inc.’s holdings in BellRing Brands were worth $20,279,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Danske Bank A S purchased a new position in BellRing Brands during the third quarter worth about $29,000. Larson Financial Group LLC raised its holdings in shares of BellRing Brands by 128.7% in the 4th quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock valued at $25,000 after acquiring an additional 524 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of BellRing Brands by 124.3% in the 3rd quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock valued at $38,000 after acquiring an additional 573 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 during the last quarter. Finally, 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. Institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling

In other BellRing Brands news, Director David Isaiah Finkelstein purchased 4,000 shares of BellRing Brands stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the transaction, the director directly owned 13,326 shares of the company’s stock, valued at approximately $122,998.98. The trade was a 42.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BRBR has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on BellRing Brands from $34.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. DA Davidson upgraded shares of BellRing Brands to a “strong-buy” rating in a research report on Monday, July 6th. Stephens reissued an “overweight” rating and issued a $20.00 price target on shares of BellRing Brands in a research note on Thursday, July 9th. Sanford C. Bernstein lowered shares of BellRing Brands from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $35.00 to $11.00 in a report on Wednesday, May 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $13.00 price target (down from $24.00) on shares of BellRing Brands in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.63.

BellRing Brands Trading Up 4.8%

BRBR opened at $12.73 on Wednesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 9.87, a PEG ratio of 5.98 and a beta of 0.45. The stock has a 50-day moving average price of $10.46 and a 200-day moving average price of $15.81. BellRing Brands Inc. has a 12-month low of $7.82 and a 12-month high of $57.82.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). The firm had revenue of $598.70 million for the quarter, compared to analysts’ expectations of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts predict that BellRing Brands Inc. will post 1.22 EPS for the current 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.