Douglas Cornille Sells 3,970 Shares of BellRing Brands (NYSE:BRBR) Stock

BellRing Brands Inc. (NYSE:BRBR) insider Douglas Cornille sold 3,970 shares of BellRing Brands stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the sale, the insider directly owned 54,812 shares of the company’s stock, valued at $1,695,335.16. The trade was a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

BellRing Brands Trading Down 0.1%

Shares of BellRing Brands stock traded down $0.04 during trading hours on Wednesday, reaching $30.81. 4,041,441 shares of the company’s stock were exchanged, compared to its average volume of 2,550,904. BellRing Brands Inc. has a 52-week low of $22.45 and a 52-week high of $80.67. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 4.06 and a beta of 0.67. The company has a fifty day moving average of $31.91 and a 200-day moving average of $44.33.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, November 18th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The business had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a share buyback plan on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of BellRing Brands

Hedge funds have recently made changes to their positions in the company. Maseco LLP purchased a new position in shares of BellRing Brands in the second quarter valued at $25,000. Smartleaf Asset Management LLC lifted its holdings in BellRing Brands by 149.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after buying an additional 310 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in BellRing Brands by 132.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after buying an additional 419 shares in the last quarter. Danske Bank A S purchased a new position in BellRing Brands in the 3rd quarter valued at about $29,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of BellRing Brands by 287.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $65,000 after acquiring an additional 649 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 firms recently issued reports on BRBR. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of BellRing Brands in a research report on Wednesday, November 19th. Zacks Research lowered shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Stifel Nicolaus lowered their price objective on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Barclays cut their target price on BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Finally, TD Cowen reiterated a “hold” rating and issued a $31.00 target price (down previously from $37.00) on shares of BellRing Brands in a report on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.53.

BellRing Brands Company 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.