Alliancebernstein L.P. Trims Position in BellRing Brands Inc. $BRBR

Key Points

• Alliancebernstein L.P. reduced its stake in BellRing Brands Inc. by 13.9%, now holding approximately 1.85% of the company's shares, valued at $176.89 million.
• BellRing Brands announced a share buyback program allowing repurchases of up to $400 million in outstanding shares, reflecting management's belief that the company's stock is undervalued.
• Despite mixed analyst ratings, with price targets ranging from $40.00 to $85.00, the stock currently holds a consensus rating of "Moderate Buy" with an average target price of $64.80.

Alliancebernstein L.P. reduced its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,375,587 shares of the company's stock after selling 383,594 shares during the quarter. Alliancebernstein L.P. owned about 1.85% of BellRing Brands worth $176,886,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in shares of BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 366 shares in the last quarter. TCTC Holdings LLC boosted its position in shares of BellRing Brands by 87.6% during the first quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after purchasing an additional 283 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after purchasing an additional 340 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company's stock valued at $38,000 after purchasing an additional 310 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BRBR shares. Jefferies Financial Group lifted their price target on BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Mizuho dropped their target price on BellRing Brands from $75.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Stephens raised BellRing Brands from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $68.00 to $50.00 in a report on Wednesday, August 6th. Evercore ISI dropped their target price on BellRing Brands from $82.00 to $64.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Tuesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.80.

BellRing Brands Stock Performance

Shares of BRBR stock traded down $1.16 during mid-day trading on Wednesday, hitting $36.55. The company's stock had a trading volume of 627,987 shares, compared to its average volume of 2,250,441. BellRing Brands Inc. has a 52-week low of $34.02 and a 52-week high of $80.67. The business has a 50-day moving average price of $47.63 and a 200 day moving average price of $60.82. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.74 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. The firm had revenue of $547.50 million during the quarter, compared to analysts' expectations of $530.76 million. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The company's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. 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 fiscal year.

BellRing Brands announced that its board has approved a share repurchase plan on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at BellRing Brands

In other news, insider Craig L. Rosenthal acquired 2,600 shares of BellRing Brands stock in a transaction that occurred 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 transaction, the insider owned 33,475 shares in the company, valued at $1,248,282.75. The trade was a 8.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shawn Conway acquired 1,316 shares of BellRing Brands stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $49,999.99 per share, with a total value of $65,799,986.84. Following the transaction, the director owned 8,001 shares of the company's stock, valued at $400,049,919.99. The trade was a 19.69% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 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.

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.