FARMERS & MERCHANTS TRUST Co OF LONG BEACH Reduces Position in BellRing Brands, Inc. (NYSE:BRBR)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its position in BellRing Brands, Inc. (NYSE:BRBR) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,800 shares of the company’s stock after selling 200 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in BellRing Brands were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its position in shares of BellRing Brands by 1,742.9% in the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 366 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock valued at $33,000 after buying an additional 283 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of BellRing Brands in the 4th quarter valued at $44,000. Aster Capital Management DIFC Ltd grew its position in shares of BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after buying an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after buying an additional 591 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

BRBR stock opened at $58.54 on Monday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The stock has a market capitalization of $7.43 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.74. The company has a fifty day moving average of $67.70 and a 200-day moving average of $71.99.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $577.56 million. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was up 18.9% on a year-over-year basis. Equities analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $62.91, for a total value of $100,656.00. Following the completion of the sale, the chief executive officer now owns 208,378 shares in the company, valued at $13,109,059.98. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,392 shares of company stock worth $437,399 over the last 90 days. Company insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the subject of a number of recent research reports. DA Davidson upgraded shares of BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 27th. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Truist Financial decreased their price target on shares of BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. Evercore ISI decreased their price target on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup decreased their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $77.00.

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.