BellRing Brands Inc. $BRBR Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in BellRing Brands Inc. by 36.6%, selling 123,446 shares to own a total of approximately 213,408 shares valued at $15.89 million.
• Several other investors have increased their positions significantly, including Versant Capital Management Inc., which boosted its stake by 1,742.9% during the same period.
• BellRing Brands reported $0.55 earnings per share for the last quarter, exceeding expectations, while also forecasting a FY 2025 EPS of 2.23.

Cubist Systematic Strategies LLC trimmed its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,408 shares of the company's stock after selling 123,446 shares during the period. Cubist Systematic Strategies LLC owned about 0.17% of BellRing Brands worth $15,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its position in shares of BellRing Brands by 0.9% in the 1st quarter. Xponance Inc. now owns 15,221 shares of the company's stock valued at $1,133,000 after purchasing an additional 142 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its position in shares of BellRing Brands by 2.5% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company's stock valued at $478,000 after purchasing an additional 157 shares during the last quarter. Stephens Inc. AR raised its position in shares of BellRing Brands by 5.0% in the 1st quarter. Stephens Inc. AR now owns 3,705 shares of the company's stock valued at $276,000 after purchasing an additional 175 shares during the last quarter. TCTC Holdings LLC raised its position in shares of BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after purchasing an additional 190 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its position in shares of BellRing Brands by 8.0% in the 1st quarter. Applied Finance Capital Management LLC now owns 3,290 shares of the company's stock valued at $245,000 after purchasing an additional 244 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Insider Activity at BellRing Brands

In related news, Director Shawn Conway purchased 1,316 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $49,999.99 per share, with a total value of $65,799,986.84. Following the purchase, the director owned 8,001 shares of the company's stock, valued at $400,049,919.99. The trade was a 19.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction 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 sale, the chief executive officer directly owned 193,978 shares in the company, valued at $10,509,728.04. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 6,616 shares of company stock valued at $65,995,248 and have sold 11,200 shares valued at $638,640. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Stock Down 7.6%

Shares of NYSE:BRBR traded down $3.23 during trading on Friday, hitting $39.45. 4,215,402 shares of the stock traded hands, compared to its average volume of 3,118,058. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.08 and a beta of 0.74. The company has a fifty day moving average price of $48.50 and a two-hundred day moving average price of $61.44. BellRing Brands Inc. has a 52-week low of $34.02 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. The firm had revenue of $547.50 million during 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%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. BellRing Brands has set its FY 2025 guidance at EPS. On average, equities research analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock repurchase program on Tuesday, September 2nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BRBR shares. Jefferies Financial Group increased their price objective on shares of BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Mizuho reduced their price target on shares of BellRing Brands from $75.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, August 18th. Truist Financial reduced their price target on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating for the company in a research 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 target for the company in a research report on Tuesday, May 27th. Finally, UBS Group reduced their price target on shares of BellRing Brands from $63.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.80.

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.