BellRing Brands (NYSE:BRBR) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of BellRing Brands (NYSE:BRBR) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

BRBR has been the topic of several other reports. Jefferies Financial Group lifted their target price on BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. 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. Barclays dropped 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 note on Thursday, August 7th. Stephens upgraded shares of BellRing Brands from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $68.00 to $50.00 in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. started coverage on shares of BellRing Brands in a research note on Wednesday, August 20th. They set an “overweight” rating and a $52.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.80.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $35.00 on Wednesday. The company has a market capitalization of $4.41 billion, a P/E ratio of 20.00, a PEG ratio of 1.66 and a beta of 0.75. BellRing Brands has a 1 year low of $34.02 and a 1 year high of $80.67. The company’s fifty day moving average is $40.27 and its two-hundred day moving average is $56.76.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The business had revenue of $547.50 million during the quarter, compared to the consensus estimate of $530.76 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. As a group, equities analysts expect that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has authorized a share buyback program on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, Director Shawn Conway bought 1,316 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $49,999.99 per share, with a total value of $65,799,986.84. Following the completion of the acquisition, the director owned 8,001 shares in the company, valued at approximately $400,049,919.99. This represents a 19.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig L. Rosenthal purchased 2,600 shares of the firm’s stock in a transaction dated 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 purchase, the insider directly owned 33,475 shares in the company, valued at approximately $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,616 shares of company stock worth $65,995,248 and sold 6,400 shares worth $358,352. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 366 shares in the last quarter. GAMMA Investing LLC grew its stake in BellRing Brands by 8,255.1% in the 1st quarter. GAMMA Investing LLC now owns 172,449 shares of the company’s stock valued at $12,841,000 after acquiring an additional 170,385 shares during the last quarter. NBC Securities Inc. increased its holdings in BellRing Brands by 168,300.0% during the 1st quarter. NBC Securities Inc. now owns 1,684 shares of the company’s stock valued at $125,000 after acquiring an additional 1,683 shares in the last quarter. Merit Financial Group LLC increased its holdings in BellRing Brands by 17.7% during the 1st quarter. Merit Financial Group LLC now owns 11,023 shares of the company’s stock valued at $821,000 after acquiring an additional 1,654 shares in the last quarter. Finally, Independence Bank of Kentucky raised its position in BellRing Brands by 147.8% during the first quarter. Independence Bank of Kentucky now owns 11,820 shares of the company’s stock worth $880,000 after acquiring an additional 7,050 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.