BellRing Brands (NYSE:BRBR) Coverage Initiated by Analysts at Sanford C. Bernstein

Analysts at Sanford C. Bernstein started coverage on shares of BellRing Brands (NYSE:BRBR) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 37.91% from the company’s previous close.

Several other analysts have also issued reports on the stock. UBS Group cut their target price on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Jefferies Financial Group raised their target price on BellRing Brands from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Zacks Research cut BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Barclays reduced their price target on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.13.

BellRing Brands Stock Performance

BRBR stock opened at $33.36 on Thursday. BellRing Brands has a fifty-two week low of $32.00 and a fifty-two week high of $80.67. The business’s 50-day moving average is $37.13 and its two-hundred day moving average is $53.25. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.63 and a beta of 0.75.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The company had revenue of $282.40 million for the quarter. Equities analysts predict that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has initiated a share buyback program on Tuesday, September 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $54.18, for a total value 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. The trade was a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig L. Rosenthal acquired 2,600 shares of BellRing Brands stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $37.29 per share, for a total transaction of $96,954.00. Following the transaction, the insider owned 33,475 shares of the company’s stock, valued at approximately $1,248,282.75. The trade was a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 6,616 shares of company stock valued at $65,995,248. Corporate insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

A number of hedge funds have recently made changes to their positions in BRBR. Maseco LLP bought a new stake in BellRing Brands in the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC grew its holdings in shares of BellRing Brands by 132.6% in the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. TCTC Holdings LLC grew its holdings in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. First Horizon Advisors Inc. lifted its position in BellRing Brands by 283.3% during 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 last quarter. Finally, Smartleaf Asset Management LLC lifted its position in BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 310 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.