Savoir Faire Capital Management L.P. Buys 27,375 Shares of BellRing Brands Inc. $BRBR

Savoir Faire Capital Management L.P. grew its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 215.3% in the second quarter, Holdings Channel reports. The firm owned 40,090 shares of the company’s stock after purchasing an additional 27,375 shares during the period. Savoir Faire Capital Management L.P.’s holdings in BellRing Brands were worth $2,322,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in BellRing Brands in the first quarter worth $280,000. GAMMA Investing LLC boosted its holdings in BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company’s stock valued at $172,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of BellRing Brands by 71.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,883 shares of the company’s stock valued at $661,000 after buying an additional 3,700 shares during the period. Independence Bank of Kentucky raised its stake in BellRing Brands by 91.5% in the second quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock worth $1,311,000 after buying an additional 10,814 shares in the last quarter. Finally, TT International Asset Management LTD raised its stake in BellRing Brands by 199.8% in the second quarter. TT International Asset Management LTD now owns 73,616 shares of the company’s stock worth $4,265,000 after buying an additional 49,064 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BellRing Brands news, insider Craig L. Rosenthal bought 2,600 shares of BellRing Brands stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $37.29 per share, with a total value of $96,954.00. Following the completion of the acquisition, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shawn Conway bought 2,700 shares of the stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $36.41 per share, for a total transaction of $98,307.00. Following the purchase, the director directly owned 6,685 shares of the company’s stock, valued at approximately $243,400.85. The trade was a 67.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 6,616 shares of company stock valued at $65,995,248. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

BellRing Brands stock opened at $30.23 on Friday. BellRing Brands Inc. has a 1 year low of $30.10 and a 1 year high of $80.67. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.75. The firm has a 50-day moving average of $36.23 and a two-hundred day moving average of $51.42.

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

BellRing Brands declared that its board has authorized a share repurchase plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BRBR shares. Jefferies Financial Group raised their price target on BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BellRing Brands in a report on Wednesday, October 8th. Truist Financial reduced their price objective on BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Barclays decreased their price objective on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Stifel Nicolaus lowered their price target on BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.56.

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.