Motley Fool Asset Management LLC Boosts Position in BellRing Brands Inc. $BRBR

Motley Fool Asset Management LLC boosted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 165.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,275 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Motley Fool Asset Management LLC’s holdings in BellRing Brands were worth $4,650,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new stake in shares of BellRing Brands during the 2nd quarter worth approximately $124,777,000. Axiom Investors LLC DE grew its stake in shares of BellRing Brands by 418.1% during the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock worth $167,455,000 after purchasing an additional 1,814,811 shares during the period. Junto Capital Management LP acquired a new stake in shares of BellRing Brands during the 1st quarter worth approximately $97,725,000. Nuveen LLC acquired a new stake in shares of BellRing Brands during the 1st quarter worth approximately $71,004,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of BellRing Brands during the 1st quarter worth approximately $38,642,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business’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 completion of the sale, the chief executive officer owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig L. Rosenthal bought 2,600 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $37.29 per share, with a total value of $96,954.00. Following the acquisition, the insider directly owned 33,475 shares of the company’s stock, valued at approximately $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 6,616 shares of company stock valued at $65,995,248. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Sanford C. Bernstein assumed coverage on shares of BellRing Brands in a research note on Thursday, October 23rd. They set an “outperform” rating and a $46.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Mizuho dropped their price objective on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $61.56.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $31.87 on Tuesday. The firm has a market cap of $4.02 billion, a PE ratio of 18.21, a PEG ratio of 1.61 and a beta of 0.75. The firm has a fifty day moving average of $36.80 and a 200 day moving average of $52.18. BellRing Brands Inc. has a one year low of $31.05 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 28th. The company reported $0.22 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%. On average, equities analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a share buyback program on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to reacquire 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 shares are undervalued.

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.