TD Asset Management Inc Has $1.37 Million Position in BellRing Brands Inc. $BRBR

TD Asset Management Inc lowered its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 11.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,634 shares of the company’s stock after selling 3,164 shares during the quarter. TD Asset Management Inc’s holdings in BellRing Brands were worth $1,369,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in BellRing Brands during the first quarter valued at approximately $280,000. GAMMA Investing LLC grew its holdings in BellRing Brands by 12.2% during the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company’s stock valued at $172,000 after purchasing an additional 252 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in BellRing Brands by 0.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 72,051 shares of the company’s stock valued at $5,365,000 after purchasing an additional 438 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in BellRing Brands by 71.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,883 shares of the company’s stock valued at $661,000 after purchasing an additional 3,700 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in BellRing Brands by 31.6% during the first quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company’s stock valued at $1,384,000 after purchasing an additional 4,461 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.4%

Shares of BRBR stock opened at $33.36 on Thursday. The company’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $53.25. The firm has a market cap of $4.20 billion, a PE ratio of 19.06, a P/E/G ratio of 1.63 and a beta of 0.75. BellRing Brands Inc. has a 12 month low of $32.00 and a 12 month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS for the quarter. The business had revenue of $282.40 million for 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 earnings per share for the current fiscal year.

BellRing Brands announced that its board has initiated a stock buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig L. Rosenthal purchased 2,600 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 6,616 shares of company stock valued at $65,995,248. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BellRing Brands in a research note on Wednesday, October 8th. Truist Financial cut their price target on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. cut their price target 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. Morgan Stanley cut their price target 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. Finally, Jefferies Financial Group lifted their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.27.

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.