BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 31.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,380 shares of the company's stock after selling 25,006 shares during the period. ExodusPoint Capital Management LP's holdings in BellRing Brands were worth $4,022,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BRBR. UMB Bank n.a. raised its position in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after buying an additional 234 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands during the fourth quarter worth $52,000. EverSource Wealth Advisors LLC raised its holdings in shares of BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after purchasing an additional 591 shares during the last quarter. Fifth Third Bancorp lifted its position in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after purchasing an additional 153 shares during the period. Finally, Blue Trust Inc. boosted its holdings in BellRing Brands by 160.5% in the fourth quarter. Blue Trust Inc. now owns 1,050 shares of the company's stock valued at $79,000 after purchasing an additional 647 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 5,100 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the transaction, the director now directly owns 1,166,691 shares in the company, valued at $87,851,832.30. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,828 shares of company stock valued at $16,917,365 in the last 90 days. 1.07% of the stock is owned by insiders.

BellRing Brands Stock Performance

Shares of BRBR traded up $1.41 during mid-day trading on Friday, hitting $75.42. 1,146,358 shares of the company were exchanged, compared to its average volume of 1,205,917. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The company has a 50 day moving average of $72.69 and a 200-day moving average of $72.16.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Research analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.