BellRing Brands (NYSE:BRBR) Trading Down 3.6% - Here's What Happened

BellRing Brands Inc. (NYSE:BRBR - Get Free Report) traded down 3.6% during mid-day trading on Thursday . The stock traded as low as $56.88 and last traded at $56.61. 173,831 shares were traded during trading, a decline of 88% from the average session volume of 1,405,598 shares. The stock had previously closed at $58.75.

Analyst Ratings Changes

A number of analysts have recently commented on BRBR shares. Truist Financial dropped their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Citigroup dropped their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Mizuho cut their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a report on Tuesday, May 27th. Finally, Barclays set a $75.00 target price on shares of BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.00.

BellRing Brands Stock Performance

The firm has a fifty day simple moving average of $65.16 and a 200-day simple moving average of $70.98. The company has a market capitalization of $7.43 billion, a PE ratio of 27.22, a P/E/G ratio of 1.85 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly 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 net margin of 12.82% and a negative return on equity of 133.63%. 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 prior year, the company posted $0.45 earnings per share. The firm's quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

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

Insider Activity at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the business's 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 owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $62.91, for a total transaction of $100,656.00. Following the sale, 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. Insiders sold a total of 7,992 shares of company stock valued at $532,903 over the last three months. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors have recently made changes to their positions in BRBR. Versant Capital Management Inc grew its stake in BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after buying an additional 366 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company's stock worth $30,000 after acquiring an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in BellRing Brands by 175.8% in 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 last quarter. First Horizon Advisors Inc. boosted its stake 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 increased its stake in shares of BellRing Brands by 149.8% in the first 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 owned by institutional investors.

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.