BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 88.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,904 shares of the company’s stock after selling 126,243 shares during the quarter. Thornburg Investment Management Inc.’s holdings in BellRing Brands were worth $1,198,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRBR. UMB Bank n.a. raised its holdings in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after purchasing an additional 234 shares during the last quarter. Colonial Trust Co SC acquired a new position in BellRing Brands during the fourth quarter worth $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands during the fourth quarter worth $52,000. Aster Capital Management DIFC Ltd raised its holdings in BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after purchasing an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after acquiring an additional 591 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 46,766 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $74.72, for a total transaction of $3,494,355.52. Following the completion of the sale, the director now owns 848,180 shares of the company’s stock, valued at approximately $63,376,009.60. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,207 shares of company stock valued at $8,253,616. Company insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 2.6%

BellRing Brands stock opened at $65.95 on Monday. The firm has a market capitalization of $8.37 billion, a P/E ratio of 30.96, a PEG ratio of 2.24 and a beta of 0.86. The stock has a fifty day moving average price of $71.60 and a 200 day moving average price of $73.54. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BRBR shares. Citigroup decreased their price objective on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Truist Financial dropped their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. Mizuho lifted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. Finally, Evercore ISI dropped their price objective on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.