Oak Ridge Investments LLC Has $9.95 Million Holdings in BellRing Brands Inc. (NYSE:BRBR)

Oak Ridge Investments LLC lifted its holdings in BellRing Brands Inc. (NYSE:BRBR) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,627 shares of the company’s stock after purchasing an additional 3,832 shares during the period. BellRing Brands accounts for about 0.8% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 25th biggest holding. Oak Ridge Investments LLC owned approximately 0.10% of BellRing Brands worth $9,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 366 shares during the period. TCTC Holdings LLC increased its holdings in shares of BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock worth $30,000 after purchasing an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock worth $33,000 after purchasing an additional 283 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of BellRing Brands by 283.3% during the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock worth $34,000 after purchasing an additional 340 shares during the period. Finally, Colonial Trust Co SC bought a new position in shares of BellRing Brands during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Stephens raised shares of BellRing Brands from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $68.00 to $50.00 in a research note on Wednesday, August 6th. Barclays reaffirmed an “overweight” rating and set a $50.00 price objective (down from $75.00) on shares of BellRing Brands in a research note on Thursday, August 7th. Truist Financial decreased 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 note on Wednesday, August 6th. Finally, Jefferies Financial Group upped their price objective on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.86.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shawn Conway acquired 2,700 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average cost of $36.41 per share, with a total value of $98,307.00. Following the transaction, the director directly owned 6,685 shares of the company’s stock, valued at $243,400.85. This represents a 67.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 14,400 shares of company stock worth $836,224. Company insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 2.1%

Shares of BRBR stock opened at $39.55 on Thursday. The firm’s 50 day moving average is $55.25 and its 200-day moving average is $65.77. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.90 and a beta of 0.72.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $530.76 million. During the same period in the prior year, the business posted $0.54 earnings per share. BellRing Brands’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

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.