486,061 Shares in BellRing Brands Inc. $BRBR Acquired by Strs Ohio

Key Points

• Strs Ohio acquired 486,061 shares of BellRing Brands Inc. for approximately $36.2 million, representing 0.38% of the company, according to their recent SEC filing.
• The company reported $0.55 EPS for the last quarter, exceeding analysts' expectations, and had a 6.2% year-over-year revenue growth to $547.5 million.
• BellRing Brands has initiated a $400 million share buyback program, indicating that its board believes the stock is undervalued.

Strs Ohio purchased a new position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 486,061 shares of the company's stock, valued at approximately $36,192,000. Strs Ohio owned approximately 0.38% of BellRing Brands as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Axiom Investors LLC DE lifted its position in BellRing Brands by 418.1% during the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company's stock worth $167,455,000 after acquiring an additional 1,814,811 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in BellRing Brands by 77.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company's stock worth $131,137,000 after purchasing an additional 768,595 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in BellRing Brands by 19.4% during the 1st quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company's stock worth $108,824,000 after purchasing an additional 237,475 shares during the last quarter. Junto Capital Management LP purchased a new stake in BellRing Brands during the 1st quarter worth approximately $97,725,000. Finally, Bank of New York Mellon Corp increased its holdings in BellRing Brands by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,023,761 shares of the company's stock worth $76,229,000 after purchasing an additional 23,299 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Trading Up 1.7%

Shares of NYSE BRBR opened at $37.39 on Friday. BellRing Brands Inc. has a twelve month low of $34.02 and a twelve month high of $80.67. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74. The business has a 50 day simple moving average of $46.82 and a 200-day simple moving average of $60.41.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.06. The firm had revenue of $547.50 million during the quarter, compared to the consensus estimate of $530.76 million. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. BellRing Brands has set its FY 2025 guidance at EPS. As a group, equities analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a share buyback program on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Craig L. Rosenthal acquired 2,600 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the purchase, the insider directly owned 33,475 shares in the company, valued at $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the transaction, the chief executive officer owned 193,978 shares of the company's stock, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 6,616 shares of company stock worth $65,995,248 and sold 11,200 shares worth $638,640. 1.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on BellRing Brands in a report on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price objective on the stock. Mizuho dropped their price objective on BellRing Brands from $75.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Jefferies Financial Group lifted their price objective on BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group dropped their price objective on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a report on Tuesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $64.80.

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.

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