GAMMA Investing LLC Raises Stock Position in BellRing Brands Inc. (NYSE:BRBR)

GAMMA Investing LLC grew its holdings in BellRing Brands Inc. (NYSE:BRBR) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,316 shares of the company’s stock after purchasing an additional 252 shares during the quarter. GAMMA Investing LLC’s holdings in BellRing Brands were worth $172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC grew its stake in BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock worth $171,663,000 after purchasing an additional 1,685,525 shares in the last quarter. Norges Bank acquired a new position in shares of BellRing Brands during the fourth quarter worth about $114,185,000. Invesco Ltd. grew its position in shares of BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after buying an additional 898,885 shares during the period. Finally, Bank of America Corp DE raised its holdings in BellRing Brands by 73.5% in the fourth quarter. Bank of America Corp DE now owns 1,709,652 shares of the company’s stock valued at $128,805,000 after acquiring an additional 724,337 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $58.04, for a total transaction of $92,864.00. Following the transaction, the chief executive officer directly owned 201,978 shares of the company’s stock, valued at approximately $11,722,803.12. This trade represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 6,400 shares of company stock valued at $385,952. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Stock Up 0.1%

Shares of NYSE BRBR opened at $57.58 on Friday. The business has a 50-day moving average price of $63.17 and a 200 day moving average price of $70.17. The stock has a market cap of $7.31 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70. BellRing Brands Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $577.56 million. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. Sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho lowered their price target on shares of BellRing Brands from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, May 28th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. DA Davidson raised BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 27th. UBS Group cut 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, Truist Financial decreased their price target on BellRing Brands from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and an average target price of $76.69.

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.