Pictet Asset Management Holding SA Sells 169,120 Shares of BellRing Brands Inc. $BRBR

Pictet Asset Management Holding SA lowered its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 15.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 958,714 shares of the company’s stock after selling 169,120 shares during the period. Pictet Asset Management Holding SA owned about 0.82% of BellRing Brands worth $15,426,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BRBR. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 524 shares during the period. Danske Bank A S purchased a new stake in shares of BellRing Brands during the third quarter worth about $29,000. IFP Advisors Inc grew its stake in shares of BellRing Brands by 124.3% in the third quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock worth $38,000 after purchasing an additional 573 shares during the last quarter. CI Investments Inc. increased its holdings in BellRing Brands by 439.1% during the 3rd quarter. CI Investments Inc. now owns 1,159 shares of the company’s stock valued at $42,000 after purchasing an additional 944 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in BellRing Brands by 333.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,856 shares of the company’s stock valued at $50,000 after purchasing an additional 1,428 shares during the period. Institutional investors own 94.97% of the company’s stock.

Insider Activity

In other BellRing Brands news, Director David Isaiah Finkelstein bought 4,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the acquisition, the director owned 13,326 shares of the company’s stock, valued at approximately $122,998.98. This trade represents a 42.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $13.86 on Friday. The company has a 50-day moving average of $10.75 and a 200 day moving average of $17.34. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 6.58 and a beta of 0.45. BellRing Brands Inc. has a 1 year low of $7.82 and a 1 year high of $59.10.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on BellRing Brands from $22.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Morgan Stanley reissued an “equal weight” rating and set a $13.00 target price (down from $24.00) on shares of BellRing Brands in a research note on Wednesday, May 6th. UBS Group decreased their target price on BellRing Brands from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Zacks Research lowered BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, Sanford C. Bernstein cut shares of BellRing Brands from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $11.00 in a report on Wednesday, May 6th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.47.

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.