Douglas Cornille Sells 3,970 Shares of BellRing Brands (NYSE:BRBR) Stock

BellRing Brands Inc. (NYSE:BRBR) insider Douglas Cornille sold 3,970 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the sale, the insider owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. The trade was a 6.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

BellRing Brands Price Performance

BRBR stock opened at $31.32 on Friday. BellRing Brands Inc. has a 1 year low of $22.45 and a 1 year high of $80.67. The firm has a market capitalization of $3.75 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 4.12 and a beta of 0.67. The business has a 50 day simple moving average of $31.69 and a 200-day simple moving average of $44.15.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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 company had revenue of $648.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. On average, equities research analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BRBR shares. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price target on shares of BellRing Brands in a research note on Wednesday, November 19th. 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. Cowen cut BellRing Brands from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, DA Davidson set a $38.00 price objective on BellRing Brands in a research report on Thursday, November 20th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.53.

Hedge Funds Weigh In On BellRing Brands

Large investors have recently made changes to their positions in the stock. TT International Asset Management LTD lifted its stake in BellRing Brands by 199.8% during the 2nd quarter. TT International Asset Management LTD now owns 73,616 shares of the company’s stock worth $4,265,000 after acquiring an additional 49,064 shares in the last quarter. Independence Bank of Kentucky grew its position in BellRing Brands by 91.5% in the 2nd quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock valued at $1,311,000 after acquiring an additional 10,814 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of BellRing Brands by 216.1% during the second quarter. Vontobel Holding Ltd. now owns 18,006 shares of the company’s stock worth $1,043,000 after purchasing an additional 12,310 shares in the last quarter. Wilson Asset Management International PTY Ltd. lifted its position in shares of BellRing Brands by 11.4% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 93,373 shares of the company’s stock worth $5,409,000 after purchasing an additional 9,554 shares in the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of BellRing Brands in the second quarter valued at approximately $852,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.