BellRing Brands Inc. $BRBR Shares Purchased by R Squared Ltd

R Squared Ltd boosted its position in BellRing Brands Inc. (NYSE:BRBR) by 117.5% during the 2nd quarter, Holdings Channel reports. The fund owned 7,744 shares of the company’s stock after acquiring an additional 4,184 shares during the quarter. R Squared Ltd’s holdings in BellRing Brands were worth $449,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BRBR. GAMMA Investing LLC raised its holdings in BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company’s stock valued at $172,000 after acquiring an additional 252 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in BellRing Brands by 31.6% during the first quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company’s stock worth $1,384,000 after purchasing an additional 4,461 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in BellRing Brands by 0.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 72,051 shares of the company’s stock worth $5,365,000 after purchasing an additional 438 shares in the last quarter. Artemis Investment Management LLP raised its holdings in BellRing Brands by 13.2% during the first quarter. Artemis Investment Management LLP now owns 841,312 shares of the company’s stock worth $62,644,000 after purchasing an additional 98,210 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in BellRing Brands during the first quarter worth approximately $280,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In other news, Director Shawn Conway acquired 2,700 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $36.41 per share, for a total transaction of $98,307.00. Following the transaction, the director directly owned 6,685 shares in the company, valued at approximately $243,400.85. This represents a 67.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the transaction, the chief executive officer owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 6,616 shares of company stock worth $65,995,248 in the last three months. Insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $33.05 on Friday. The firm’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $52.75. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.63 and a beta of 0.75. BellRing Brands Inc. has a 12 month low of $32.00 and a 12 month high of $80.67.

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

BellRing Brands declared that its board has authorized a share repurchase plan on Tuesday, September 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BRBR. JPMorgan Chase & Co. cut their price objective on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Mizuho cut their price objective on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, August 18th. Stifel Nicolaus cut their price objective on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI cut their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, UBS Group cut their price objective on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $61.56.

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.