Invesco Ltd. Reduces Holdings in BellRing Brands Inc. (NYSE:BRBR)

Key Points

• Invesco Ltd. has reduced its stake in BellRing Brands Inc. by 3.3%, now holding approximately 4.12 million shares valued at $307.33 million.
• Other institutional investors like D. E. Shaw & Co. and AQR Capital Management increased their holdings significantly in the last quarter, indicating strong interest in BellRing Brands.
• BellRing Brands reported earnings per share (EPS) of $0.55 for the quarter, surpassing analysts’ expectations of $0.49, while revenue also grew by 6.2% compared to the previous year.

Invesco Ltd. lessened its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,127,488 shares of the company's stock after selling 138,887 shares during the period. Invesco Ltd. owned approximately 3.22% of BellRing Brands worth $307,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BRBR. Envestnet Asset Management Inc. raised its holdings in shares of BellRing Brands by 21.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 258,302 shares of the company's stock worth $19,460,000 after purchasing an additional 45,136 shares during the last quarter. FMR LLC increased its holdings in BellRing Brands by 32.4% in the fourth quarter. FMR LLC now owns 1,502,042 shares of the company's stock valued at $113,164,000 after buying an additional 367,822 shares in the last quarter. Bank of Montreal Can increased its holdings in BellRing Brands by 11.6% in the fourth quarter. Bank of Montreal Can now owns 28,002 shares of the company's stock valued at $2,110,000 after buying an additional 2,906 shares in the last quarter. Raymond James Financial Inc. purchased a new position in BellRing Brands in the fourth quarter valued at $18,356,000. Finally, Barclays PLC increased its holdings in BellRing Brands by 23.0% in the fourth quarter. Barclays PLC now owns 159,170 shares of the company's stock valued at $11,992,000 after buying an additional 29,802 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of BellRing Brands from $75.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Stephens raised shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $68.00 to $50.00 in a report on Wednesday, August 6th. DA Davidson raised shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a report on Tuesday, May 27th. UBS Group cut their price objective on shares of BellRing Brands from $63.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Morgan Stanley cut their price objective on shares of BellRing Brands from $78.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.86.

Insider Activity

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shawn Conway bought 1,316 shares of BellRing Brands stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the acquisition, the director owned 8,001 shares in the company, valued at $400,049,919.99. This represents a 19.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,616 shares of company stock valued at $65,995,248 and sold 14,400 shares valued at $836,224. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Price Performance

BRBR traded up $0.38 on Friday, reaching $38.38. 2,527,339 shares of the company's stock were exchanged, compared to its average volume of 4,288,871. The stock has a market cap of $4.84 billion, a PE ratio of 21.93, a P/E/G ratio of 1.88 and a beta of 0.72. BellRing Brands Inc. has a twelve month low of $34.02 and a twelve month high of $80.67. The stock's fifty day moving average price is $54.33 and its 200-day moving average price is $65.13.

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 analysts' consensus estimates of $0.49 by $0.06. The firm had revenue of $547.50 million for the quarter, compared to analyst estimates of $530.76 million. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. BellRing Brands's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal 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.