Douglas J. Cornille Sells 3,192 Shares of BellRing Brands, Inc. (NYSE:BRBR) Stock

BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BellRing Brands Stock Up 0.5 %

BRBR traded up $0.32 during trading on Monday, hitting $70.18. The company's stock had a trading volume of 1,652,538 shares, compared to its average volume of 1,196,328. The business's 50 day simple moving average is $73.26 and its 200-day simple moving average is $71.80. The firm has a market cap of $9.00 billion, a PE ratio of 32.95, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Equities research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

Remove Ads

BellRing Brands declared that its board has authorized a share buyback program on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of BellRing Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BRBR. Summit Global Investments boosted its holdings in BellRing Brands by 7.1% in the 1st quarter. Summit Global Investments now owns 24,351 shares of the company's stock worth $1,813,000 after buying an additional 1,623 shares during the period. GAMMA Investing LLC grew its position in shares of BellRing Brands by 8,255.1% during the first quarter. GAMMA Investing LLC now owns 172,449 shares of the company's stock worth $12,841,000 after purchasing an additional 170,385 shares in the last quarter. Versant Capital Management Inc raised its stake in BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 366 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in BellRing Brands by 175.8% in 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in BellRing Brands by 1,105.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,339 shares of the company's stock worth $3,416,000 after purchasing an additional 41,578 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on BRBR shares. Morgan Stanley assumed coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Stephens reissued an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen boosted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Barclays increased their target price on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Mizuho boosted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.13.

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.