Harbour Capital Advisors LLC Purchases 18,610 Shares of BellRing Brands Inc. $BRBR

Harbour Capital Advisors LLC raised its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 137.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,115 shares of the company’s stock after acquiring an additional 18,610 shares during the period. Harbour Capital Advisors LLC’s holdings in BellRing Brands were worth $1,847,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in BellRing Brands by 1,742.9% in the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 366 shares in the last quarter. TCTC Holdings LLC grew its holdings in BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after buying an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock valued at $33,000 after buying an additional 283 shares during the period. First Horizon Advisors Inc. raised its position in BellRing Brands by 283.3% in the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Activity

In related news, Director Shawn Conway acquired 2,700 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $36.41 per share, with a total value of $98,307.00. Following the acquisition, the director directly owned 6,685 shares in the company, valued at approximately $243,400.85. The trade was a 67.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the transaction, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 6,616 shares of company stock valued at $65,995,248 and have sold 9,600 shares valued at $543,136. Insiders own 1.07% of the company’s stock.

BellRing Brands Stock Down 1.9%

BRBR opened at $36.00 on Friday. The firm has a market cap of $4.54 billion, a P/E ratio of 20.57, a PEG ratio of 1.79 and a beta of 0.74. BellRing Brands Inc. has a 52 week low of $34.02 and a 52 week high of $80.67. The business’s fifty day simple moving average is $44.29 and its 200 day simple moving average is $58.96.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $530.76 million. During the same quarter last year, the firm posted $0.54 earnings per share. BellRing Brands’s revenue was up 6.2% on a year-over-year basis. BellRing Brands has set its FY 2025 guidance at EPS. As a group, equities analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a stock buyback plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Mizuho dropped their price objective on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Evercore ISI lowered their price target on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Truist Financial lowered their target price on shares of BellRing Brands from $60.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. Finally, Morgan Stanley cut their price target on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $64.80.

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.