Cetera Investment Advisers Buys 10,471 Shares of BellRing Brands Inc. (NYSE:BRBR)

Key Points

• Cetera Investment Advisers increased its holdings in BellRing Brands Inc. by 51.3% during the first quarter, resulting in a total value of $2.3 million from 30,889 shares owned.
• Insider transactions included CEO Darcy Horn Davenport selling 1,600 shares for $86,688, while insider Craig L. Rosenthal purchased 2,600 shares valued at approximately $96,954.
• BellRing Brands reported $0.55 earnings per share in its last quarterly earnings, exceeding expectations and showing a 6.2% increase in revenue compared to the previous year.

Cetera Investment Advisers boosted its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,889 shares of the company's stock after acquiring an additional 10,471 shares during the period. Cetera Investment Advisers' holdings in BellRing Brands were worth $2,300,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. lifted its stake in BellRing Brands by 0.9% in the first quarter. Xponance Inc. now owns 15,221 shares of the company's stock valued at $1,133,000 after buying an additional 142 shares during the period. Argonautica Private Wealth Management Inc. lifted its stake in BellRing Brands by 2.5% in the first quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company's stock valued at $478,000 after buying an additional 157 shares during the period. Stephens Inc. AR lifted its stake in BellRing Brands by 5.0% in the first quarter. Stephens Inc. AR now owns 3,705 shares of the company's stock valued at $276,000 after buying an additional 175 shares during the period. GAMMA Investing LLC lifted its stake in BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock valued at $172,000 after buying an additional 252 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in BellRing Brands by 175.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after buying an additional 283 shares during the period. Institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

BellRing Brands stock traded down $0.12 during midday trading on Friday, reaching $39.04. The stock had a trading volume of 3,356,118 shares, compared to its average volume of 4,082,193. The firm's fifty day simple moving average is $56.68 and its 200-day simple moving average is $66.48. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67. The stock has a market capitalization of $4.96 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $547.50 million for the quarter, compared to analyst estimates of $530.76 million. During the same quarter last year, the firm earned $0.54 EPS. BellRing Brands's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on BRBR. Morgan Stanley cut their target price on BellRing Brands from $78.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday. Stephens raised BellRing Brands from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $68.00 to $50.00 in a research note on Wednesday. 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 research note on Tuesday, May 27th. UBS Group dropped their price target on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $67.86.

Insider Activity at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig L. Rosenthal bought 2,600 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 14,400 shares of company stock valued at $836,224. 1.07% of the stock is owned by 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.