Sarasin & Partners LLP Lowers Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Sarasin & Partners LLP reduced its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 10,000 shares during the period. Sarasin & Partners LLP’s holdings in BellRing Brands were worth $3,723,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BRBR. Vanguard Group Inc. increased its stake in shares of BellRing Brands by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after purchasing an additional 135,105 shares in the last quarter. Franklin Resources Inc. boosted its holdings in BellRing Brands by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock worth $344,885,000 after buying an additional 96,991 shares during the last quarter. Invesco Ltd. increased its stake in BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP increased its stake in BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after buying an additional 898,885 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of BellRing Brands by 32.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company’s stock valued at $174,866,000 after acquiring an additional 564,342 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $100,656.00. Following the completion of the sale, the chief executive officer now owns 208,378 shares of the company’s stock, valued at $13,109,059.98. This trade represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,392 shares of company stock valued at $437,399 in the last quarter. Insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

BellRing Brands stock opened at $60.21 on Tuesday. The firm has a 50 day simple moving average of $68.58 and a 200-day simple moving average of $72.49. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.74. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. Equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has initiated a stock buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial lowered their price target on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Evercore ISI lowered their target price on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Citigroup dropped their target price on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.