Traders Purchase Large Volume of Put Options on BellRing Brands (NYSE:BRBR)

BellRing Brands Inc. (NYSE:BRBR) was the recipient of unusually large options trading activity on Thursday. Traders bought 8,288 put options on the company. This represents an increase of 716% compared to the average volume of 1,016 put options.

Insider Transactions at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $59.69, for a total value of $95,504.00. Following the completion of the sale, the chief executive officer now owns 203,578 shares in the company, valued at approximately $12,151,570.82. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction 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 in the company, valued at $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,992 shares of company stock worth $532,903. Insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

A number of large investors have recently bought and sold shares of BRBR. Voya Investment Management LLC boosted its holdings in shares of BellRing Brands by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 248,024 shares of the company’s stock valued at $18,468,000 after acquiring an additional 48,140 shares during the last quarter. Strs Ohio purchased a new position in shares of BellRing Brands during the first quarter worth $36,192,000. Woodline Partners LP acquired a new position in BellRing Brands during the first quarter valued at $10,440,000. McIlrath & Eck LLC lifted its position 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 purchasing an additional 169 shares during the period. Finally, United Services Automobile Association purchased a new stake in BellRing Brands in the first quarter valued at $619,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Down 2.6%

BRBR opened at $57.20 on Friday. The company has a market cap of $7.26 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.74. The firm’s 50-day moving average price is $65.16 and its 200-day moving average price is $70.98. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The business had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the prior year, the business posted $0.45 EPS. BellRing Brands’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, research analysts anticipate that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has approved a share buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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