BellRing Brands, Inc. (NYSE:BRBR) CEO Sells $96,928.00 in Stock

BellRing Brands, Inc. (NYSE:BRBR) CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $60.58, for a total value of $96,928.00. Following the completion of the sale, the chief executive officer now directly owns 206,778 shares in the company, valued at $12,526,611.24. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Darcy Horn Davenport also recently made the following trade(s):

• On Friday, May 30th, Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock. The stock was sold at an average price of $62.91, for a total transaction of $100,656.00.

BellRing Brands Price Performance

BellRing Brands stock traded down $0.76 during mid-day trading on Monday, hitting $60.21. The company’s stock had a trading volume of 1,983,391 shares, compared to its average volume of 1,370,060. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The company has a market cap of $7.65 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.74. The firm’s 50 day moving average is $68.91 and its 200 day moving average is $72.61.

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 business had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the firm earned $0.45 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a share buyback program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in BellRing Brands in the fourth quarter worth approximately $10,673,000. Truist Financial Corp grew its position in BellRing Brands by 11.8% in the fourth quarter. Truist Financial Corp now owns 672,139 shares of the company’s stock worth $50,639,000 after acquiring an additional 70,878 shares in the last quarter. LMR Partners LLP acquired a new position in shares of BellRing Brands during the 4th quarter worth $17,328,000. Raymond James Financial Inc. bought a new position in shares of BellRing Brands during the 4th quarter valued at $18,356,000. Finally, Savant Capital LLC bought a new position in shares of BellRing Brands during the 4th quarter valued at $2,207,000. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BRBR shares. UBS Group lowered their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Truist Financial cut their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. DA Davidson raised BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 27th. Finally, Morgan Stanley began coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

BellRing Brands Company 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.