Pallas Capital Advisors LLC Grows Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Pallas Capital Advisors LLC raised its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 27.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,350 shares of the company's stock after acquiring an additional 4,575 shares during the quarter. Pallas Capital Advisors LLC's holdings in BellRing Brands were worth $1,590,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after buying an additional 1,685,525 shares during the last quarter. Norges Bank purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $114,185,000. Invesco Ltd. lifted its position in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after buying an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after buying an additional 898,885 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock worth $128,805,000 after buying an additional 724,337 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $60.58, for a total transaction of $96,928.00. Following the completion of the sale, the chief executive officer now owns 206,778 shares in the company, valued at $12,526,611.24. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,392 shares of company stock valued at $437,399 in the last ninety days. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Stock Performance

BRBR traded down $1.57 during trading on Friday, hitting $58.54. The stock had a trading volume of 2,155,545 shares, compared to its average volume of 1,384,190. The firm has a market capitalization of $7.43 billion, a P/E ratio of 27.48, a PEG ratio of 2.24 and a beta of 0.74. The company's 50-day moving average price is $67.92 and its 200 day moving average price is $72.20. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same period in the previous year, the company posted $0.45 EPS. BellRing Brands's revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a stock repurchase program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Tuesday, May 27th. Morgan Stanley started coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target for the company. Truist Financial reduced their price target on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Finally, Barclays set a $75.00 price target on shares of BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, BellRing Brands presently has an average rating of "Moderate Buy" and an average price target of $77.00.

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.