BellRing Brands Inc. $BRBR Holdings Increased by Strs Ohio

Strs Ohio grew its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499,607 shares of the company’s stock after buying an additional 13,546 shares during the quarter. Strs Ohio owned about 0.39% of BellRing Brands worth $28,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Xponance Inc. lifted its holdings in BellRing Brands by 0.9% in the 1st quarter. Xponance Inc. now owns 15,221 shares of the company’s stock valued at $1,133,000 after acquiring an additional 142 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in BellRing Brands by 2.5% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company’s stock valued at $478,000 after acquiring an additional 157 shares during the last quarter. McIlrath & Eck LLC lifted its stake in BellRing Brands by 13.6% during the first quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock valued at $105,000 after buying an additional 169 shares in the last quarter. Stephens Inc. AR increased its position in shares of BellRing Brands by 5.0% in the first quarter. Stephens Inc. AR now owns 3,705 shares of the company’s stock worth $276,000 after acquiring an additional 175 shares in the last quarter. Finally, TCTC Holdings LLC increased its position in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock worth $30,000 after acquiring an additional 190 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI dropped their target price on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Truist Financial lowered their price objective on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on shares of BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Barclays lowered their price objective on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.56.

BellRing Brands Trading Down 2.0%

Shares of BellRing Brands stock opened at $30.23 on Friday. The firm has a fifty day simple moving average of $36.23 and a 200-day simple moving average of $51.42. BellRing Brands Inc. has a 1-year low of $30.10 and a 1-year high of $80.67. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.50 and a beta of 0.75.

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

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Shawn Conway bought 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $36.41 per share, with a total value of $98,307.00. Following the completion of the transaction, the director owned 6,685 shares of the company’s stock, valued at $243,400.85. The trade was a 67.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig L. Rosenthal bought 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the transaction, the insider directly owned 33,475 shares of the company’s stock, valued at $1,248,282.75. This trade represents a 8.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 6,616 shares of company stock worth $65,995,248 in the last ninety days. 1.07% of the stock is currently owned by insiders.

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.