BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,230,000 shares, a growth of 26.0% from the January 31st total of 1,770,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 2.0 days.
Insider Activity
In other news, Director Robert V. Vitale sold 79,068 shares of BellRing Brands stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $77.04, for a total value of $6,091,398.72. Following the sale, the director now directly owns 982,706 shares in the company, valued at $75,707,670.24. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 218,636 shares of company stock worth $16,677,550 over the last ninety days. Insiders own 1.07% of the company's stock.
Institutional Investors Weigh In On BellRing Brands
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of BellRing Brands by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after acquiring an additional 135,105 shares during the period. Wasatch Advisors LP raised its stake in BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock valued at $406,903,000 after purchasing an additional 494,669 shares in the last quarter. Franklin Resources Inc. raised its stake in BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock valued at $344,885,000 after purchasing an additional 96,991 shares in the last quarter. Invesco Ltd. raised its stake in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after purchasing an additional 1,121,691 shares in the last quarter. Finally, State Street Corp raised its stake in BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company's stock valued at $236,001,000 after purchasing an additional 50,339 shares in the last quarter. Institutional investors own 94.97% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Barclays boosted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Evercore ISI boosted their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Mizuho boosted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Citigroup boosted their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.79.
Check Out Our Latest Research Report on BellRing Brands
BellRing Brands Price Performance
BRBR stock traded up $0.61 during midday trading on Friday, reaching $69.02. 1,972,344 shares of the company were exchanged, compared to its average volume of 1,118,859. The business has a 50-day moving average price of $74.53 and a two-hundred day moving average price of $69.64. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. BellRing Brands has a one year low of $48.06 and a one year high of $80.67.
BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. As a group, analysts anticipate that BellRing Brands will post 2.23 earnings per share for the current fiscal year.
BellRing Brands announced that its Board of Directors has initiated a share buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
About BellRing Brands
(
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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.
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