Interval Partners LP Cuts Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Interval Partners LP lowered its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 59.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 131,581 shares of the company’s stock after selling 195,373 shares during the period. Interval Partners LP’s holdings in BellRing Brands were worth $9,913,000 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. SeaBridge Investment Advisors LLC raised its position in BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after buying an additional 153 shares in the last quarter. Dorsey Wright & Associates lifted its position in BellRing Brands by 0.3% in the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock worth $3,799,000 after buying an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after buying an additional 185 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its stake in shares of BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after purchasing an additional 188 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BRBR. Truist Financial lowered their price target on shares of BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday. 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. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Evercore ISI lowered their price objective on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Barclays set a $75.00 target price on shares of BellRing Brands and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Insider Buying and Selling

In other news, Director Robert V. Vitale sold 79,068 shares of BellRing Brands stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $77.04, for a total transaction of $6,091,398.72. Following the completion of the transaction, the director now directly owns 982,706 shares in the company, valued at approximately $75,707,670.24. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock valued at $16,917,365 over the last quarter. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Trading Down 1.1 %

NYSE:BRBR opened at $61.18 on Friday. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The company has a 50-day moving average price of $72.00 and a 200-day moving average price of $73.52. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

BellRing Brands Company 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.