BellRing Brands Inc. $BRBR Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its holdings in BellRing Brands Inc. by 24.7%, now owning 303,769 shares valued at approximately $22.6 million.
• AQR Capital Management significantly grew its stake by 284.2%, owning 2,278,508 shares valued at $171.7 million after acquiring an additional 1.7 million shares.
• Insider trading activity includes the purchase of 2,600 shares by insider Craig L. Rosenthal and the sale of 1,600 shares by CEO Darcy Horn Davenport, indicating mixed signals from management regarding the company's stock.

Raymond James Financial Inc. increased its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,769 shares of the company's stock after purchasing an additional 60,130 shares during the period. Raymond James Financial Inc. owned 0.24% of BellRing Brands worth $22,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BRBR. AQR Capital Management LLC grew its position in shares of BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock valued at $171,663,000 after purchasing an additional 1,685,525 shares during the period. Nuveen LLC purchased a new stake in shares of BellRing Brands in the first quarter valued at $71,004,000. Assenagon Asset Management S.A. grew its position in shares of BellRing Brands by 77.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company's stock valued at $131,137,000 after purchasing an additional 768,595 shares during the period. Bank of America Corp DE grew its position in shares of BellRing Brands by 73.5% in the fourth quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock valued at $128,805,000 after purchasing an additional 724,337 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock valued at $174,866,000 after purchasing an additional 564,342 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, insider Craig L. Rosenthal bought 2,600 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $37.29 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares in the company, 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. Over the last three months, insiders have purchased 6,616 shares of company stock valued at $65,995,248 and have sold 14,400 shares valued at $836,224. 1.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRBR. Truist Financial lowered their price objective on BellRing Brands from $60.00 to $40.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. UBS Group reduced their target price on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. assumed coverage on BellRing Brands in a report on Wednesday, August 20th. They issued an "overweight" rating and a $52.00 target price on the stock. Mizuho reduced 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. Finally, Citigroup reduced their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.80.

BellRing Brands Price Performance

NYSE:BRBR opened at $38.6910 on Tuesday. The business's 50-day moving average is $51.85 and its two-hundred day moving average is $63.47. BellRing Brands Inc. has a 12 month low of $34.02 and a 12 month high of $80.67. The firm has a market capitalization of $4.87 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72.

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

BellRing Brands Company 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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