Axiom Investors LLC DE Buys 1,814,811 Shares of BellRing Brands Inc. $BRBR

Key Points

• Axiom Investors LLC DE significantly increased its holdings in BellRing Brands Inc. during Q1, lifting its position by 418.1%, now owning 2,248,924 shares valued at approximately $167.45 million.
• BellRing Brands' stock has seen volatility, with a current trading price of $39.45, down 7.6%, after hitting a 52-week high of $80.67.
• The company reported better-than-expected quarterly earnings, with $0.55 EPS, exceeding consensus estimates, and has announced a share buyback plan valued at $400 million, indicating confidence in its stock value.

Axiom Investors LLC DE boosted its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 418.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,248,924 shares of the company's stock after purchasing an additional 1,814,811 shares during the quarter. BellRing Brands comprises approximately 1.6% of Axiom Investors LLC DE's holdings, making the stock its 24th largest holding. Axiom Investors LLC DE owned 1.75% of BellRing Brands worth $167,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in BellRing Brands by 1,742.9% in the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 366 shares in the last quarter. TCTC Holdings LLC lifted its stake in 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 purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock worth $33,000 after purchasing an additional 283 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in BellRing Brands by 283.3% in the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock worth $34,000 after purchasing an additional 340 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in BellRing Brands by 149.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company's stock worth $38,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Up 2.2%

BellRing Brands stock traded up $0.81 during midday trading on Friday, reaching $38.12. The stock had a trading volume of 2,536,348 shares, compared to its average volume of 3,471,361. BellRing Brands Inc. has a 52-week low of $34.02 and a 52-week high of $80.67. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74. The company has a fifty day moving average of $46.43 and a 200 day moving average of $60.17.

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

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

Analyst Upgrades and Downgrades

Several analysts have commented on BRBR shares. Jefferies Financial Group boosted their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley decreased their target price on shares of BellRing Brands from $78.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. JPMorgan Chase & Co. began coverage on shares of BellRing Brands in a research report on Wednesday, August 20th. They set an "overweight" rating and a $52.00 target price on the stock. Stephens upgraded shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $68.00 to $50.00 in a research report on Wednesday, August 6th. Finally, Barclays decreased their target price on shares of BellRing Brands from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and an average target price of $64.80.

Insider Buying and Selling

In other news, Director Shawn Conway acquired 1,316 shares of BellRing Brands stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $49,999.99 per share, with a total value of $65,799,986.84. Following the transaction, the director directly owned 8,001 shares of the company's stock, valued at $400,049,919.99. This trade represents a 19.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig L. Rosenthal bought 2,600 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the purchase, the insider directly owned 33,475 shares in the company, valued at approximately $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,616 shares of company stock valued at $65,995,248 and have sold 11,200 shares valued at $638,640. 1.07% of the stock is currently owned by corporate insiders.

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.