BellRing Brands (NYSE:BRBR) Coverage Initiated at Sanford C. Bernstein

Research analysts at Sanford C. Bernstein assumed coverage on shares of BellRing Brands (NYSE:BRBR) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $46.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 37.91% from the stock’s current price.

A number of other brokerages have also recently weighed in on BRBR. Barclays decreased their price objective on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Stephens upgraded shares of BellRing Brands from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $68.00 to $50.00 in a report on Wednesday, August 6th. Evercore ISI cut their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Zacks Research downgraded shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Truist Financial lowered their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.13.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $33.36 on Thursday. The stock has a 50 day moving average price of $37.13 and a 200 day moving average price of $53.25. BellRing Brands has a 52-week low of $32.00 and a 52-week high of $80.67. The firm has a market capitalization of $4.20 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.63 and a beta of 0.75.

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

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

Insider Transactions at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shawn Conway purchased 1,316 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the acquisition, the director owned 8,001 shares of the company’s stock, valued at $400,049,919.99. The trade was a 19.69% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 6,616 shares of company stock worth $65,995,248 over the last 90 days. 1.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Holocene Advisors LP grew its stake in shares of BellRing Brands by 50.7% during the 2nd quarter. Holocene Advisors LP now owns 3,928,395 shares of the company’s stock worth $227,572,000 after purchasing an additional 1,320,849 shares during the period. Axiom Investors LLC DE boosted 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 worth $167,455,000 after buying an additional 1,814,811 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in BellRing Brands during the second quarter worth $124,777,000. Driehaus Capital Management LLC raised its position in shares of BellRing Brands by 19.4% in the first quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company’s stock worth $108,824,000 after acquiring an additional 237,475 shares during the period. Finally, Junto Capital Management LP acquired a new position in shares of BellRing Brands in the first quarter worth about $97,725,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.