Brevan Howard Capital Management LP Sells 27,730 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Brevan Howard Capital Management LP lessened its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 83.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,328 shares of the company's stock after selling 27,730 shares during the quarter. Brevan Howard Capital Management LP's holdings in BellRing Brands were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRBR. Diversified Trust Co purchased a new position in shares of BellRing Brands in the 4th quarter valued at approximately $260,000. Claro Advisors LLC purchased a new position in shares of BellRing Brands in the 4th quarter valued at approximately $239,000. Miracle Mile Advisors LLC purchased a new position in shares of BellRing Brands in the 4th quarter valued at approximately $816,000. Pallas Capital Advisors LLC lifted its stake in shares of BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock valued at $1,264,000 after purchasing an additional 10,117 shares during the period. Finally, Oak Thistle LLC purchased a new position in BellRing Brands during the fourth quarter valued at $1,031,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded down $0.13 during trading hours on Wednesday, hitting $63.51. The company's stock had a trading volume of 1,676,934 shares, compared to its average volume of 1,292,402. The business has a 50 day moving average price of $71.76 and a two-hundred day moving average price of $73.51. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company has a market cap of $8.15 billion, a PE ratio of 29.82, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.53 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 business 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 earnings per share. The business's 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 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Robert V. Vitale sold 44,249 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total value of $3,423,545.13. Following the sale, the director now directly owns 938,457 shares in the company, valued at approximately $72,608,418.09. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,275 shares of company stock worth $14,345,014 over the last ninety days. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BRBR shares. Stephens reiterated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup lowered their price objective 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. Morgan Stanley started coverage on BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Barclays set a $75.00 price objective on BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Truist Financial lowered their price objective 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.00.

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.