Fox Run Management L.L.C. Makes New Investment in BellRing Brands Inc. (NYSE:BRBR)

Key Points

• Fox Run Management L.L.C. purchased 32,998 shares of BellRing Brands Inc. valued at approximately $2.46 million, making it the firm's 15th largest position.
• Insider trading activity includes Director Shawn Conway acquiring 2,700 shares, representing a 67.75% increase in their ownership, while CEO Darcy Horn Davenport sold 1,600 shares, reducing their position by 0.82%.
• BellRing Brands reported better-than-expected earnings, with a quarterly EPS of $0.55, beating analyst estimates, and a revenue increase of 6.2% compared to the previous year.

Fox Run Management L.L.C. bought a new position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 32,998 shares of the company's stock, valued at approximately $2,457,000. BellRing Brands accounts for 0.4% of Fox Run Management L.L.C.'s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds also recently made changes to their positions in BRBR. Versant Capital Management Inc increased its position 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 worth $29,000 after purchasing an additional 366 shares during the last quarter. TCTC Holdings LLC lifted its stake in BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company's stock worth $30,000 after acquiring an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in BellRing Brands by 175.8% during 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. First Horizon Advisors Inc. lifted its position in BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after buying an additional 340 shares during the period. Finally, Colonial Trust Co SC bought a new position in shares of BellRing Brands during the fourth quarter valued at $44,000. 94.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, insider Craig L. Rosenthal acquired 2,600 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $37.29 per share, with a total value of $96,954.00. Following the completion of the acquisition, the insider owned 33,475 shares in the company, valued at approximately $1,248,282.75. This trade represents a 8.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shawn Conway purchased 1,316 shares of the stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the purchase, the director directly owned 8,001 shares of the company's stock, valued at approximately $400,049,919.99. The trade was a 19.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,616 shares of company stock valued at $65,995,248 and have sold 14,400 shares valued at $836,224. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Stock Performance

BRBR stock traded up $0.38 during midday trading on Friday, reaching $38.38. The company's stock had a trading volume of 2,527,339 shares, compared to its average volume of 4,288,871. The stock has a fifty day simple moving average of $54.33 and a two-hundred day simple moving average of $65.13. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.88 and a beta of 0.72.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.55 earnings per share 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 company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $530.76 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRBR. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research report on Tuesday, May 27th. Morgan Stanley cut their price objective on BellRing Brands from $78.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Mizuho cut their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. UBS Group dropped their price target on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Evercore ISI decreased their price objective on BellRing Brands from $82.00 to $64.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.86.

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.