BellRing Brands, Inc. (NYSE:BRBR) CEO Darcy Horn Davenport Sells 1,600 Shares

BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.58, for a total value of $96,928.00. Following the completion of the sale, the chief executive officer now directly owns 206,778 shares of the company's stock, valued at approximately $12,526,611.24. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Darcy Horn Davenport also recently made the following trade(s):

• On Friday, May 30th, Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock. The stock was sold at an average price of $62.91, for a total transaction of $100,656.00.

BellRing Brands Price Performance

BRBR traded up $0.20 during midday trading on Thursday, reaching $60.00. 2,888,352 shares of the company's stock traded hands, compared to its average volume of 1,378,867. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm has a fifty day moving average of $68.13 and a two-hundred day moving average of $72.32. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.24 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The business's revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of BellRing Brands

Several institutional investors and hedge funds have recently bought and sold shares of BRBR. Axiom Investors LLC DE raised its position in shares of BellRing Brands by 418.1% in the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company's stock worth $167,455,000 after acquiring an additional 1,814,811 shares in the last quarter. AQR Capital Management LLC grew its stake in BellRing Brands by 284.2% in the fourth 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 during the period. Norges Bank bought a new position in BellRing Brands in the fourth quarter worth $114,185,000. Junto Capital Management LP purchased a new position in BellRing Brands during the first quarter valued at $97,725,000. Finally, Invesco Ltd. lifted its position in BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after buying an additional 1,121,691 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BRBR. Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. Mizuho cut their price target on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Citigroup reduced their price objective 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. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Tuesday, May 27th. Finally, UBS Group dropped their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

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.