BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 88.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,904 shares of the company’s stock after selling 126,243 shares during the period. Thornburg Investment Management Inc.’s holdings in BellRing Brands were worth $1,198,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BRBR. Merit Financial Group LLC acquired a new position in BellRing Brands during the fourth quarter worth $706,000. Oak Ridge Investments LLC raised its stake in shares of BellRing Brands by 2.3% in the fourth quarter. Oak Ridge Investments LLC now owns 129,795 shares of the company’s stock valued at $9,779,000 after acquiring an additional 2,959 shares in the last quarter. UMB Bank n.a. raised its stake in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of BellRing Brands in the fourth quarter valued at $302,000. Finally, SG Americas Securities LLC raised its stake in shares of BellRing Brands by 3,112.0% in the fourth quarter. SG Americas Securities LLC now owns 266,533 shares of the company’s stock valued at $20,081,000 after acquiring an additional 258,235 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $65.95 on Monday. The stock’s 50-day moving average is $71.60 and its two-hundred day moving average is $73.54. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

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

BellRing Brands declared that its board has initiated a share buyback 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Robert V. Vitale sold 46,766 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $74.72, for a total transaction of $3,494,355.52. Following the transaction, the director now owns 848,180 shares of the company’s stock, valued at $63,376,009.60. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares in the company, 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. Over the last 90 days, insiders have sold 109,207 shares of company stock valued at $8,253,616. 1.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BRBR has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup reduced their price objective on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays set a $75.00 price objective on BellRing Brands and gave the company an “overweight” rating in a research note on Wednesday, May 7th. UBS Group reduced their price objective on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Truist Financial cut their price target on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.