Burney Co. Sells 124,329 Shares of BellRing Brands Inc. $BRBR

Burney Co. reduced its stake in BellRing Brands Inc. (NYSE:BRBR) by 86.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,317 shares of the company’s stock after selling 124,329 shares during the period. Burney Co.’s holdings in BellRing Brands were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BRBR. McIlrath & Eck LLC grew its stake in BellRing Brands by 13.6% in the 1st quarter. McIlrath & Eck LLC now owns 1,413 shares of the company’s stock valued at $105,000 after buying an additional 169 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in BellRing Brands by 2.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,083 shares of the company’s stock worth $526,000 after acquiring an additional 200 shares during the last quarter. Shilanski & Associates Inc. boosted its holdings in shares of BellRing Brands by 1.2% during the second quarter. Shilanski & Associates Inc. now owns 23,218 shares of the company’s stock worth $1,345,000 after acquiring an additional 264 shares during the period. VestGen Investment Management grew its position in shares of BellRing Brands by 5.0% in the second quarter. VestGen Investment Management now owns 6,080 shares of the company’s stock valued at $352,000 after purchasing an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after purchasing an additional 310 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BRBR. UBS Group restated a “neutral” rating and issued a $34.00 price target on shares of BellRing Brands in a research note on Friday, November 28th. Morgan Stanley reduced their target price on shares of BellRing Brands from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Stifel Nicolaus lowered their price target on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. DA Davidson set a $38.00 price objective on shares of BellRing Brands in a report on Thursday, November 20th. Finally, Evercore ISI decreased their target price on shares of BellRing Brands from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

BellRing Brands Stock Up 0.1%

BRBR opened at $30.17 on Monday. BellRing Brands Inc. has a twelve month low of $22.45 and a twelve month high of $80.67. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 4.03 and a beta of 0.67. The company has a 50-day simple moving average of $30.33 and a 200 day simple moving average of $40.37.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $648.20 million for the quarter, compared to the consensus estimate of $633.21 million. BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The business’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a stock buyback program on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of BellRing Brands stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the transaction, the insider owned 54,812 shares in the company, valued at approximately $1,695,335.16. This trade represents a 6.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

BellRing Brands Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.