Panagora Asset Management Inc. Has $10.55 Million Holdings in BellRing Brands Inc. $BRBR

Key Points

• Panagora Asset Management Inc. increased its stake in BellRing Brands by 43.5% during the first quarter, now owning approximately 0.11% of the company worth $10.5 million.
• BellRing Brands reported $0.55 earnings per share, exceeding analysts' projections of $0.49, and achieved a revenue of $547.5 million for the quarter, up 6.2% year-over-year.
• Several research firms have adjusted their price targets for BellRing Brands, with a consensus target price of $64.80 and a majority rating the stock as a "Moderate Buy."

Panagora Asset Management Inc. boosted its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,663 shares of the company's stock after acquiring an additional 42,962 shares during the quarter. Panagora Asset Management Inc. owned 0.11% of BellRing Brands worth $10,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vident Advisory LLC lifted its position in BellRing Brands by 221.9% during the 1st quarter. Vident Advisory LLC now owns 10,022 shares of the company's stock worth $746,000 after buying an additional 6,909 shares in the last quarter. Driehaus Capital Management LLC lifted its position 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 buying an additional 237,475 shares in the last quarter. Trexquant Investment LP lifted its position in BellRing Brands by 31.9% during the 1st quarter. Trexquant Investment LP now owns 113,839 shares of the company's stock worth $8,476,000 after buying an additional 27,505 shares in the last quarter. Landscape Capital Management L.L.C. lifted its position in BellRing Brands by 100.4% during the 1st quarter. Landscape Capital Management L.L.C. now owns 110,475 shares of the company's stock worth $8,226,000 after buying an additional 55,354 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in BellRing Brands by 141.0% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 25,148 shares of the company's stock worth $1,873,000 after buying an additional 14,712 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insider Activity at BellRing Brands

In related news, Director Shawn Conway purchased 2,700 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $36.41 per share, for a total transaction of $98,307.00. Following the purchase, the director owned 6,685 shares in the company, valued at approximately $243,400.85. This represents a 67.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the transaction, the chief executive officer owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 6,616 shares of company stock worth $65,995,248 and have sold 11,200 shares worth $638,640. 1.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson raised shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday, May 27th. Morgan Stanley cut their price target 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. Truist Financial cut their price target on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. JPMorgan Chase & Co. initiated coverage on shares of BellRing Brands in a research note on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price objective on the stock. Finally, Stephens upgraded shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $68.00 to $50.00 in a research note on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and a consensus target price of $64.80.

BellRing Brands Trading Down 7.6%

Shares of BellRing Brands stock traded down $3.23 during trading on Friday, hitting $39.45. 4,215,402 shares of the stock were exchanged, compared to its average volume of 3,118,058. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.08 and a beta of 0.74. The company has a fifty day moving average price of $48.50 and a 200-day moving average price of $61.44. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data 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. 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 previous year, the business earned $0.54 EPS. BellRing Brands's revenue for the quarter was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. Equities research analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

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

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.