BellRing Brands Inc. $BRBR Shares Sold by Burney Co.

Burney Co. lowered its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 31.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,646 shares of the company’s stock after selling 64,666 shares during the period. Burney Co. owned about 0.11% of BellRing Brands worth $8,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Maseco LLP acquired a new stake in shares of BellRing Brands during the 2nd quarter valued at approximately $25,000. TCTC Holdings LLC increased its stake in BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. First Horizon Advisors Inc. increased its stake in BellRing Brands by 283.3% in the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after purchasing an additional 310 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in BellRing Brands by 2,660.0% during the first quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $51,000 after purchasing an additional 665 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial dropped their price target on BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group raised their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Morgan Stanley cut their target price on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Stifel Nicolaus lowered their price target on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, UBS Group dropped their price objective on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.56.

BellRing Brands Stock Down 0.5%

BRBR stock opened at $30.05 on Monday. The stock’s fifty day simple moving average is $36.03 and its 200-day simple moving average is $50.78. BellRing Brands Inc. has a 52-week low of $29.90 and a 52-week high of $80.67. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The company had revenue of $282.40 million during the quarter. As a group, analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a stock buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Shawn Conway acquired 2,700 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $36.41 per share, for a total transaction of $98,307.00. Following the acquisition, the director directly owned 6,685 shares in the company, valued at approximately $243,400.85. This represents a 67.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig L. Rosenthal bought 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the transaction, the insider directly owned 33,475 shares in the company, valued at approximately $1,248,282.75. This trade represents a 8.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 6,616 shares of company stock worth $65,995,248. 1.07% of the stock is currently owned by insiders.

BellRing Brands Profile

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.