BellRing Brands, Inc. (NYSE:BRBR) Short Interest Update

BellRing Brands, Inc. (NYSE:BRBR) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,770,000 shares, an increase of 24.2% from the February 13th total of 2,230,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.2% of the shares of the company are sold short.

BellRing Brands Price Performance

Shares of BellRing Brands stock traded up $1.77 during trading hours on Monday, reaching $69.25. The company’s stock had a trading volume of 1,256,360 shares, compared to its average volume of 1,122,098. The stock has a market cap of $8.88 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands has a one year low of $48.06 and a one year high of $80.67. The firm has a 50 day moving average price of $73.63 and a 200-day moving average price of $70.22.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. As a group, sell-side analysts forecast that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 218,636 shares of company stock worth $16,677,550 in the last three months. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRBR. UMB Bank n.a. raised its position in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after purchasing an additional 234 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of BellRing Brands during the third quarter valued at $44,000. Colonial Trust Co SC bought a new stake in shares of BellRing Brands in the fourth quarter valued at about $44,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in BellRing Brands in the fourth quarter worth about $52,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup raised their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen raised their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Truist Financial upped their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.79.

About BellRing Brands

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