Janney Montgomery Scott LLC Increases Stake in BellRing Brands Inc. (NYSE:BRBR)

Janney Montgomery Scott LLC increased its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 31.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,584 shares of the company’s stock after buying an additional 4,461 shares during the period. Janney Montgomery Scott LLC’s holdings in BellRing Brands were worth $1,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in BellRing Brands in the fourth quarter valued at about $17,328,000. Raymond James Financial Inc. purchased a new position in BellRing Brands in the fourth quarter valued at about $18,356,000. Private Advisor Group LLC purchased a new position in BellRing Brands in the fourth quarter valued at about $228,000. American Century Companies Inc. grew its stake in BellRing Brands by 24.7% in the fourth quarter. American Century Companies Inc. now owns 703,632 shares of the company’s stock valued at $53,012,000 after purchasing an additional 139,322 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in BellRing Brands by 168,300.0% in the first quarter. NBC Securities Inc. now owns 1,684 shares of the company’s stock valued at $125,000 after purchasing an additional 1,683 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR stock opened at $58.52 on Friday. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.81 and a beta of 0.74. The stock has a 50 day simple moving average of $64.83 and a 200-day simple moving average of $70.85. BellRing Brands Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho dropped their price target on BellRing Brands from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 28th. DA Davidson upgraded BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 27th. Citigroup dropped their price target 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. UBS Group dropped their price target 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, Morgan Stanley assumed coverage on BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $59.69, for a total value of $95,504.00. Following the completion of the sale, the chief executive officer now directly owns 203,578 shares in the company, valued at $12,151,570.82. This represents a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,992 shares of company stock valued at $532,903. 1.07% of the stock is owned by insiders.

BellRing Brands 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.