Hudson Bay Capital Management LP Has $2.51 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Hudson Bay Capital Management LP decreased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 18.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,293 shares of the company’s stock after selling 7,495 shares during the period. Hudson Bay Capital Management LP’s holdings in BellRing Brands were worth $2,508,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SeaBridge Investment Advisors LLC increased its holdings in shares of BellRing Brands by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after acquiring an additional 142 shares during the last quarter. Fifth Third Bancorp increased 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 acquiring an additional 153 shares during the last quarter. Dorsey Wright & Associates increased its holdings in shares of BellRing Brands by 0.3% during the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock valued at $3,799,000 after acquiring an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in shares of BellRing Brands by 3.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock valued at $472,000 after acquiring an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Down 2.3%

Shares of BRBR stock opened at $63.61 on Wednesday. The stock has a 50 day moving average of $71.76 and a two-hundred day moving average of $73.51. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The company has a market capitalization of $8.16 billion, a P/E ratio of 29.86, a P/E/G ratio of 2.24 and a beta of 0.86.

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

BellRing Brands declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 44,249 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the completion of the transaction, the director now owns 938,457 shares in the company, valued at $72,608,418.09. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the firm’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 transaction, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,275 shares of company stock worth $14,345,014 in the last 90 days. 1.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup lowered their price objective on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley started coverage on BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price on the stock. Mizuho raised their target price on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays set a $75.00 target price on BellRing Brands and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, UBS Group lowered their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.