Janney Montgomery Scott LLC Boosts Stock Holdings in BellRing Brands Inc. $BRBR

Janney Montgomery Scott LLC lifted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,611 shares of the company’s stock after buying an additional 1,027 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BellRing Brands were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of BellRing Brands by 12.2% in the 1st quarter. GAMMA Investing LLC now owns 2,316 shares of the company’s stock worth $172,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp boosted its stake in BellRing Brands by 33.5% during the first quarter. Fifth Third Bancorp now owns 1,328 shares of the company’s stock worth $99,000 after acquiring an additional 333 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in BellRing Brands during the first quarter worth about $263,000. Wolf Group Capital Advisors purchased a new position in BellRing Brands in the first quarter worth about $1,201,000. Finally, State of Alaska Department of Revenue raised its holdings in BellRing Brands by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 15,028 shares of the company’s stock worth $1,118,000 after buying an additional 290 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 0.5%

Shares of NYSE:BRBR opened at $34.31 on Tuesday. BellRing Brands Inc. has a 52-week low of $33.51 and a 52-week high of $80.67. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.67 and a beta of 0.75. The business has a 50-day moving average price of $37.85 and a 200-day moving average price of $54.95.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The company 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%. As a group, equities analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a share repurchase plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research reports. Evercore ISI decreased their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Stephens raised BellRing Brands from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $68.00 to $50.00 in a report on Wednesday, August 6th. JPMorgan Chase & Co. reduced 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 report on Thursday, October 9th. Morgan Stanley cut their target price on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Truist Financial lowered their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $64.27.

Insider Transactions at BellRing Brands

In other news, insider Craig L. Rosenthal purchased 2,600 shares of the stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $37.29 per share, with a total value of $96,954.00. Following the completion of the purchase, the insider directly owned 33,475 shares of the company’s stock, valued at approximately $1,248,282.75. The trade was a 8.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the completion of the sale, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at $10,509,728.04. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 6,616 shares of company stock valued at $65,995,248 and have sold 4,800 shares valued at $266,096. Corporate insiders own 1.07% of the company’s stock.

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.