BellRing Brands (NYSE:BRBR) Reaches New 52-Week Low – Here’s What Happened

BellRing Brands Inc. (NYSE:BRBR)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $29.39 and last traded at $29.3380, with a volume of 167945 shares. The stock had previously closed at $30.15.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on BellRing Brands in a report on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 price objective for the company. Evercore ISI decreased their target price on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of BellRing Brands in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced 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. Finally, Truist Financial decreased their price objective on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.56.

BellRing Brands Stock Up 0.9%

The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The business’s fifty day moving average is $34.99 and its 200 day moving average is $49.56.

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

BellRing Brands declared that its Board of Directors has authorized a stock repurchase program on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at BellRing Brands

In related news, Director Shawn Conway acquired 1,316 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the purchase, the director directly owned 8,001 shares in the company, valued at approximately $400,049,919.99. This trade represents a 19.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Institutional Trading of BellRing Brands

A number of hedge funds have recently modified their holdings of the stock. TT International Asset Management LTD raised its holdings in shares of BellRing Brands by 199.8% during the 2nd 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. Independence Bank of Kentucky grew its position in BellRing Brands by 91.5% in the second quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock valued at $1,311,000 after acquiring an additional 10,814 shares during the last quarter. MRA Advisory Group acquired a new position in BellRing Brands during the second quarter worth about $448,000. Wilson Asset Management International PTY Ltd. lifted its holdings in shares of BellRing Brands by 11.4% in the second quarter. Wilson Asset Management International PTY Ltd. now owns 93,373 shares of the company’s stock worth $5,409,000 after acquiring an additional 9,554 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of BellRing Brands by 216.1% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,006 shares of the company’s stock valued at $1,043,000 after purchasing an additional 12,310 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.