Short Interest in BellRing Brands, Inc. (NYSE:BRBR) Grows By 37.3%

BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 4,200,000 shares, an increase of 37.3% from the April 30th total of 3,060,000 shares. Approximately 3.3% of the company's stock are sold short. Based on an average trading volume of 1,780,000 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Barclays set a $75.00 price target on shares of BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Evercore ISI lowered their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Stephens reiterated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, Citigroup reduced their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Insider Buying and Selling

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $100,656.00. Following the transaction, the chief executive officer now owns 208,378 shares in the company, valued at approximately $13,109,059.98. This trade represents a 0.76% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Institutional Investors Weigh In On BellRing Brands

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 366 shares during the period. TCTC Holdings LLC boosted its position in BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after purchasing an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after purchasing an additional 283 shares during the period. First Horizon Advisors Inc. boosted its position in BellRing Brands by 283.3% during the 1st 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 period. Finally, Smartleaf Asset Management LLC boosted its position in BellRing Brands by 149.8% during the 1st 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 period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Price Performance

BellRing Brands stock traded up $0.27 during midday trading on Tuesday, hitting $63.26. 1,832,345 shares of the company were exchanged, compared to its average volume of 1,351,645. The company's fifty day moving average price is $69.91 and its 200-day moving average price is $72.96. The company has a market cap of $8.03 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. BellRing Brands has a fifty-two week low of $48.06 and a fifty-two week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. During the same period in the previous year, the business earned $0.45 EPS. BellRing Brands's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, analysts expect that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

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.