Crestline Management LP Increases Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Crestline Management LP boosted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 38.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,223 shares of the company’s stock after purchasing an additional 3,923 shares during the quarter. Crestline Management LP’s holdings in BellRing Brands were worth $1,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of BellRing Brands by 134.5% during the fourth quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $156,000 after buying an additional 1,184 shares during the period. Everence Capital Management Inc. bought a new stake in shares of BellRing Brands in the 4th quarter valued at about $235,000. Diversified Trust Co purchased a new stake in shares of BellRing Brands in the 4th quarter worth approximately $260,000. First Hawaiian Bank boosted its stake in shares of BellRing Brands by 3.5% during the fourth quarter. First Hawaiian Bank now owns 20,299 shares of the company’s stock valued at $1,529,000 after purchasing an additional 681 shares in the last quarter. Finally, Claro Advisors LLC purchased a new position in BellRing Brands during the fourth quarter valued at approximately $239,000. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $61.95 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The firm has a market capitalization of $7.95 billion, a PE ratio of 29.08, a P/E/G ratio of 2.24 and a beta of 0.86. The stock’s 50-day simple moving average is $72.20 and its 200-day simple moving average is $73.49.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same period last year, the firm posted $0.45 EPS. BellRing Brands’s revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the sale, the director now owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BRBR. Truist Financial dropped their target price on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday. Mizuho raised their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays set a $75.00 target price on shares of BellRing Brands and gave the stock an “overweight” rating in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, UBS Group reduced their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.