BellRing Brands (NYSE:BRBR) Stock Price Down 10.4% – Here’s What Happened

BellRing Brands Inc. (NYSE:BRBR) fell 10.4% during trading on Monday . The company traded as low as $28.06 and last traded at $27.0310. 316,851 shares changed hands during trading, a decline of 88% from the average session volume of 2,586,130 shares. The stock had previously closed at $30.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $62.00 price target on shares of BellRing Brands in a research report on Monday, December 15th. 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. JPMorgan Chase & Co. dropped their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Sanford C. Bernstein began coverage on BellRing Brands in a research note on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, UBS Group reissued a “neutral” rating and set a $34.00 target price on shares of BellRing Brands in a research report on Friday, November 28th. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

BellRing Brands Stock Down 9.8%

The firm has a market capitalization of $3.26 billion, a PE ratio of 16.13, a P/E/G ratio of 4.03 and a beta of 0.67. The firm’s 50 day moving average price is $30.33 and its two-hundred day moving average price is $40.37.

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

BellRing Brands declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to reacquire 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 stock is undervalued.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. 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 sale, the insider directly owned 54,812 shares in the company, valued at $1,695,335.16. The trade was a 6.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. Maseco LLP bought a new stake in shares of BellRing Brands in the second quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in BellRing Brands by 132.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after acquiring an additional 419 shares in the last quarter. Danske Bank A S bought a new stake in shares of BellRing Brands in the 3rd quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of BellRing Brands in the 3rd quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after purchasing an additional 310 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.