BellRing Brands Target of Unusually Large Options Trading (NYSE:BRBR)

BellRing Brands Inc. (NYSE:BRBR - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Traders acquired 8,288 put options on the company. This is an increase of approximately 716% compared to the average volume of 1,016 put options.

Insiders Place Their Bets

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

Hedge Funds Weigh In On BellRing Brands

Several institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its position in BellRing Brands by 24.1% in the first quarter. Voya Investment Management LLC now owns 248,024 shares of the company's stock worth $18,468,000 after purchasing an additional 48,140 shares during the last quarter. Strs Ohio bought a new stake in shares of BellRing Brands during the 1st quarter worth $36,192,000. Woodline Partners LP purchased a new position in shares of BellRing Brands in the 1st quarter worth about $10,440,000. McIlrath & Eck LLC boosted its holdings in shares of BellRing Brands by 13.6% in the 1st quarter. McIlrath & Eck LLC now owns 1,413 shares of the company's stock worth $105,000 after buying an additional 169 shares during the last quarter. Finally, United Services Automobile Association bought a new position in BellRing Brands during the first quarter valued at about $619,000. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Up 2.2%

NYSE BRBR traded up $1.26 on Friday, reaching $58.52. The company had a trading volume of 5,064,201 shares, compared to its average volume of 1,441,707. The company's fifty day moving average is $64.83 and its 200 day moving average is $70.85. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $80.67. The stock has a market capitalization of $7.43 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.81 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, hitting 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 during the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business's revenue was up 18.9% compared to the same quarter last year. On average, research analysts expect that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands declared that its board has initiated a stock repurchase plan on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BRBR. 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 target on the stock. UBS Group cut their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Truist Financial decreased their target price on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Barclays set a $75.00 price target on BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, 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 report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.