Davidson Investment Advisors Sells 20,120 Shares of BellRing Brands Inc. $BRBR

Davidson Investment Advisors lowered its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 6.3% in the third quarter, Holdings Channel reports. The firm owned 296,775 shares of the company’s stock after selling 20,120 shares during the period. Davidson Investment Advisors’ holdings in BellRing Brands were worth $10,788,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in BellRing Brands during the third quarter worth about $1,287,000. Vontobel Holding Ltd. raised its position in shares of BellRing Brands by 216.1% during the second quarter. Vontobel Holding Ltd. now owns 18,006 shares of the company’s stock worth $1,043,000 after purchasing an additional 12,310 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of BellRing Brands by 91.5% during the 2nd quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock valued at $1,311,000 after purchasing an additional 10,814 shares in the last quarter. TT International Asset Management LTD grew its position in shares of BellRing Brands by 199.8% in the 2nd quarter. TT International Asset Management LTD now owns 73,616 shares of the company’s stock valued at $4,265,000 after purchasing an additional 49,064 shares during the period. Finally, Wilson Asset Management International PTY Ltd. increased its stake in BellRing Brands by 11.4% during the 2nd quarter. Wilson Asset Management International PTY Ltd. now owns 93,373 shares of the company’s stock worth $5,409,000 after purchasing an additional 9,554 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $34.00 price target on shares of BellRing Brands in a research note on Friday, November 28th. Barclays cut their price objective on shares of BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Cowen downgraded BellRing Brands from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. DA Davidson set a $38.00 price target on BellRing Brands in a report on Thursday, November 20th. Finally, Stifel Nicolaus decreased their price objective on BellRing Brands from $56.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average target price of $44.00.

Insiders Place Their Bets

In related news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $122,792.10. Following the transaction, the insider directly owned 54,812 shares in the company, valued at approximately $1,695,335.16. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

BellRing Brands Stock Performance

NYSE:BRBR opened at $26.09 on Friday. BellRing Brands Inc. has a 52-week low of $22.45 and a 52-week high of $80.67. The company has a market cap of $3.12 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.57 and a beta of 0.67. The stock’s 50-day simple moving average is $29.69 and its 200 day simple moving average is $39.48.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results 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). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The company had revenue of $648.20 million during the quarter, compared to the consensus estimate of $633.21 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands 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.