BellRing Brands Inc. (NYSE:BRBR) CEO Darcy Horn Davenport Sells 1,600 Shares

BellRing Brands Inc. (NYSE:BRBR) CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $59.69, for a total value of $95,504.00. Following the transaction, the chief executive officer now directly owns 203,578 shares in the company, valued at $12,151,570.82. This represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Darcy Horn Davenport also recently made the following trade(s):

• On Friday, June 6th, Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock. The stock was sold at an average price of $60.58, for a total value of $96,928.00.
• On Friday, May 30th, Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock. The stock was sold at an average price of $62.91, for a total value of $100,656.00.

BellRing Brands Stock Up 1.0%

Shares of BellRing Brands stock traded up $0.59 on Monday, reaching $59.37. The company’s stock had a trading volume of 2,119,953 shares, compared to its average volume of 1,406,325. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 1.85 and a beta of 0.74. The firm’s fifty day simple moving average is $66.45 and its two-hundred day simple moving average is $71.41. BellRing Brands Inc. has a 52 week low of $48.06 and a 52 week high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The company had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. BellRing Brands’s revenue was up 18.9% compared to the same quarter last year. As a group, research analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current year.

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

Institutional Trading of BellRing Brands

Large investors have recently modified their holdings of the company. Axiom Investors LLC DE grew its holdings in BellRing Brands by 418.1% during the first quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after purchasing an additional 1,814,811 shares during the period. AQR Capital Management LLC lifted its position in shares of BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock worth $171,663,000 after buying an additional 1,685,525 shares in the last quarter. Norges Bank purchased a new stake in shares of BellRing Brands in the fourth quarter worth about $114,185,000. Junto Capital Management LP purchased a new stake in shares of BellRing Brands in the first quarter worth about $97,725,000. Finally, Invesco Ltd. raised its position in BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the period. Institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of research analyst reports. UBS Group decreased their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. DA Davidson upgraded BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 27th. Morgan Stanley started coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 target price for the company. Citigroup dropped their target price on BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Truist Financial cut their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands 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.