BellRing Brands Inc. $BRBR Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 5.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,858 shares of the company’s stock after selling 1,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in BellRing Brands were worth $1,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRBR. Maseco LLP bought a new stake in BellRing Brands in the second quarter valued at about $25,000. TCTC Holdings LLC increased its holdings in BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after buying an additional 190 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in BellRing Brands by 283.3% in the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after buying an additional 340 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in BellRing Brands by 149.8% in the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after buying an additional 310 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in BellRing Brands by 2,660.0% in the first quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $51,000 after buying an additional 665 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Insider Activity

In other BellRing Brands news, insider Craig L. Rosenthal purchased 2,600 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $37.29 per share, with a total value of $96,954.00. Following the completion of the acquisition, the insider owned 33,475 shares in the company, valued at approximately $1,248,282.75. This represents a 8.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 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.

BellRing Brands Trading Down 3.3%

BRBR opened at $34.19 on Monday. The business’s 50 day moving average is $38.24 and its 200-day moving average is $55.22. The stock has a market cap of $4.31 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.67 and a beta of 0.75. BellRing Brands Inc. has a twelve month low of $33.72 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR) last released 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 negative return on equity of 123.43% and a net margin of 10.26%. As a group, analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BRBR shares. Morgan Stanley lowered their price objective on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Evercore ISI cut their target price on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. UBS Group cut their target price on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, Truist Financial cut their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.27.

BellRing Brands 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.