Bayforest Capital Ltd Takes $116,000 Position in BellRing Brands Inc. $BRBR

Bayforest Capital Ltd acquired a new position in BellRing Brands Inc. (NYSE:BRBR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,994 shares of the company’s stock, valued at approximately $116,000.

A number of other institutional investors have also added to or reduced their stakes in BRBR. TCTC Holdings LLC increased its holdings in BellRing Brands by 87.6% during 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 period. Maseco LLP bought a new stake in BellRing Brands during the 2nd quarter valued at $25,000. First Horizon Advisors Inc. increased its holdings in shares of BellRing Brands by 283.3% in the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after acquiring an additional 340 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of BellRing Brands by 149.8% during the 1st 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 last quarter. Finally, Larson Financial Group LLC boosted its position in BellRing Brands by 2,660.0% during the first quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $51,000 after purchasing an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the completion of the sale, the chief executive officer directly owned 193,978 shares in the company, valued at $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig L. Rosenthal purchased 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the purchase, the insider directly owned 33,475 shares in the company, valued at $1,248,282.75. This trade represents a 8.42% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,616 shares of company stock worth $65,995,248. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho decreased their price target on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, August 18th. UBS Group reduced their price target on BellRing Brands from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Barclays dropped their price target on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Stephens upgraded shares of BellRing Brands from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $68.00 to $50.00 in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group upped their target price on BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.27.

BellRing Brands Stock Down 0.8%

Shares of BRBR stock opened at $32.95 on Friday. The stock has a market cap of $4.15 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.62 and a beta of 0.75. BellRing Brands Inc. has a 52-week low of $32.72 and a 52-week high of $80.67. The business has a 50-day simple moving average of $37.50 and a 200-day simple moving average of $54.09.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The business had revenue of $282.40 million for the quarter. Sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a stock buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.