Pictet Asset Management Holding SA Cuts Stake in BellRing Brands Inc. $BRBR

Pictet Asset Management Holding SA cut its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 958,714 shares of the company’s stock after selling 169,120 shares during the quarter. Pictet Asset Management Holding SA’s holdings in BellRing Brands were worth $15,426,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in BellRing Brands by 128.7% in the 4th quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock worth $25,000 after purchasing an additional 524 shares in the last quarter. Danske Bank A S bought a new stake in BellRing Brands during the 3rd quarter valued at about $29,000. IFP Advisors Inc increased its stake in BellRing Brands by 124.3% during the 3rd quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock valued at $38,000 after purchasing an additional 573 shares in the last quarter. CI Investments Inc. raised its holdings in BellRing Brands by 439.1% in the third quarter. CI Investments Inc. now owns 1,159 shares of the company’s stock worth $42,000 after buying an additional 944 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in BellRing Brands by 333.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,856 shares of the company’s stock worth $50,000 after buying an additional 1,428 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

BRBR has been the topic of several analyst reports. 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 note on Thursday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of BellRing Brands from $21.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Zacks Research lowered shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. DA Davidson lowered their price objective on BellRing Brands from $34.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Finally, BTIG Research assumed coverage on BellRing Brands in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Hold” and a consensus price target of $22.47.

BellRing Brands Stock Up 3.8%

Shares of BRBR stock opened at $13.86 on Friday. The company has a 50 day moving average price of $10.75 and a 200-day moving average price of $17.34. BellRing Brands Inc. has a 52 week low of $7.82 and a 52 week high of $59.10. The firm has a market capitalization of $1.61 billion, a PE ratio of 10.74, a P/E/G ratio of 6.58 and a beta of 0.45.

BellRing Brands (NYSE:BRBR) last issued 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). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The company had revenue of $598.70 million for the quarter, compared to the consensus estimate of $608.88 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that BellRing Brands Inc. will post 1.22 earnings per share for the current year.

Insider Buying and Selling at BellRing Brands

In other news, Director David Isaiah Finkelstein purchased 4,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $9.23 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

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.