TT International Asset Management LTD Increases Stock Position in BellRing Brands Inc. $BRBR

TT International Asset Management LTD boosted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 29.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,361 shares of the company’s stock after buying an additional 21,745 shares during the quarter. BellRing Brands makes up approximately 0.5% of TT International Asset Management LTD’s investment portfolio, making the stock its 16th biggest holding. TT International Asset Management LTD owned about 0.08% of BellRing Brands worth $3,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC purchased a new position in shares of BellRing Brands in the 2nd quarter valued at $1,248,000. Osaic Holdings Inc. boosted its position in BellRing Brands by 659.3% during the second quarter. Osaic Holdings Inc. now owns 28,199 shares of the company’s stock valued at $1,635,000 after purchasing an additional 24,485 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in BellRing Brands by 42.4% in the second quarter. Orion Porfolio Solutions LLC now owns 11,042 shares of the company’s stock valued at $640,000 after purchasing an additional 3,287 shares during the last quarter. Marex Group plc bought a new position in BellRing Brands in the second quarter worth about $497,000. Finally, State of Wyoming bought a new position in BellRing Brands in the second quarter worth about $146,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 2.6%

NYSE BRBR opened at $32.78 on Tuesday. The company has a fifty day simple moving average of $31.13 and a two-hundred day simple moving average of $42.39. The stock has a market cap of $3.92 billion, a P/E ratio of 19.51, a P/E/G ratio of 4.27 and a beta of 0.67. BellRing Brands Inc. has a 12-month low of $22.45 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced 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). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The company had revenue of $648.20 million for the quarter, compared to analysts’ expectations of $633.21 million. During the same period last year, the firm earned $0.51 earnings per share. BellRing Brands’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has approved a share buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the sale, the insider owned 54,812 shares in the company, valued at approximately $1,695,335.16. The trade was a 6.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BRBR shares. Stifel Nicolaus cut their price objective on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Mizuho lowered their target price on shares of BellRing Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BellRing Brands in a research report on Monday, December 8th. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price objective on shares of BellRing Brands in a research report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft set a $62.00 target price on BellRing Brands in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $43.75.

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.