BellRing Brands Inc. (NYSE:BRBR) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in BellRing Brands Inc. (NYSE:BRBR) by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,328 shares of the company’s stock after purchasing an additional 333 shares during the quarter. Fifth Third Bancorp’s holdings in BellRing Brands were worth $99,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 366 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock valued at $33,000 after acquiring an additional 283 shares during the last quarter. Colonial Trust Co SC acquired a new stake in BellRing Brands in the 4th quarter valued at about $44,000. Aster Capital Management DIFC Ltd lifted its holdings in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after acquiring an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 591 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity

In other news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $60.58, for a total value of $96,928.00. Following the transaction, the chief executive officer now owns 206,778 shares of the company’s stock, valued at $12,526,611.24. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,392 shares of company stock valued at $437,399 over the last 90 days. 1.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BRBR shares. Evercore ISI cut their price target on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Citigroup cut their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. UBS Group cut their price target on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Truist Financial cut their price target on shares of BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 8th. Finally, Mizuho reduced their price objective on shares of BellRing Brands from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

BellRing Brands Price Performance

Shares of BRBR opened at $60.71 on Friday. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.92 and a beta of 0.74. BellRing Brands Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The business’s 50-day moving average is $66.78 and its 200-day moving average is $71.63.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts expect 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 share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is 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.