Driehaus Capital Management LLC Grows Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Driehaus Capital Management LLC grew its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,224,040 shares of the company's stock after purchasing an additional 60,534 shares during the period. BellRing Brands comprises approximately 0.8% of Driehaus Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Driehaus Capital Management LLC owned approximately 0.95% of BellRing Brands worth $92,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRBR. UMB Bank n.a. boosted its position in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after acquiring an additional 234 shares during the period. Colonial Trust Co SC bought a new position in shares of BellRing Brands during the 4th quarter worth approximately $44,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of BellRing Brands in the 4th quarter worth $52,000. Aster Capital Management DIFC Ltd lifted its stake in BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after acquiring an additional 643 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 591 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several recent research reports. Morgan Stanley initiated coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Mizuho increased their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. UBS Group lowered their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Stephens restated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, Truist Financial cut their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 79,068 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $77.04, for a total value of $6,091,398.72. Following the completion of the sale, the director now owns 982,706 shares of the company's stock, valued at approximately $75,707,670.24. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,728 shares of company stock valued at $16,533,335. 1.07% of the stock is owned by company insiders.

BellRing Brands Price Performance

BellRing Brands stock traded down $1.35 during trading hours on Tuesday, hitting $63.79. 1,117,179 shares of the stock traded hands, compared to its average volume of 1,280,508. The firm's 50 day moving average price is $71.85 and its 200-day moving average price is $73.58. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

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

BellRing Brands announced that its board has initiated a share repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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.