Driehaus Capital Management LLC Acquires 237,475 Shares of BellRing Brands Inc. $BRBR

Key Points

• Driehaus Capital Management LLC increased its holding in BellRing Brands Inc. by 19.4% in Q1, making it their 11th largest position with 1,461,515 shares valued at approximately $108.8 million.
• Numerous other institutional investors also significantly increased their positions in BellRing Brands, with Axiom Investors LLC DE boosting its stake by 418.1% during the same quarter.
• BellRing Brands reported earnings of $0.55 per share in its most recent quarter, exceeding analysts' expectations, and projected a full-year EPS of 2.23 for FY 2025.

Driehaus Capital Management LLC lifted its stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,461,515 shares of the company's stock after acquiring an additional 237,475 shares during the quarter. BellRing Brands accounts for 1.0% of Driehaus Capital Management LLC's portfolio, making the stock its 11th largest holding. Driehaus Capital Management LLC owned 1.14% of BellRing Brands worth $108,824,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 366 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 283 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of BellRing Brands by 283.3% in the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after purchasing an additional 340 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of BellRing Brands by 149.8% in the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company's stock valued at $38,000 after purchasing an additional 310 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

BellRing Brands Trading Up 1.1%

NYSE BRBR traded up $0.47 during trading on Wednesday, hitting $42.09. 1,077,534 shares of the company traded hands, compared to its average volume of 2,188,546. BellRing Brands Inc. has a 12 month low of $34.02 and a 12 month high of $80.67. The business has a fifty day simple moving average of $49.51 and a 200 day simple moving average of $62.08. The company has a market capitalization of $5.30 billion, a P/E ratio of 24.01, a PEG ratio of 2.00 and a beta of 0.74.

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. 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 earned $0.54 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. Equities research analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a share repurchase program on Tuesday, September 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of research analyst reports. DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a report on Tuesday, May 27th. Evercore ISI cut their price objective on BellRing Brands from $82.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Stephens upgraded BellRing Brands from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $68.00 to $50.00 in a report on Wednesday, August 6th. JPMorgan Chase & Co. began coverage on BellRing Brands in a report on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price objective for the company. Finally, Citigroup cut their price objective on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.80.

Insider Buying and Selling at BellRing Brands

In related news, Director Shawn Conway bought 2,700 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $36.41 per share, for a total transaction of $98,307.00. Following the completion of the acquisition, the director directly owned 6,685 shares in the company, valued at approximately $243,400.85. This represents a 67.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the transaction, the chief executive officer owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents 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 worth $65,995,248 and have sold 12,800 shares worth $735,568. Corporate insiders own 1.07% of the company's stock.

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.