Friedenthal Financial Takes Position in BellRing Brands Inc. (NYSE:BRBR)

Friedenthal Financial acquired a new stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,954 shares of the company's stock, valued at approximately $890,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ieq Capital LLC acquired a new position in BellRing Brands during the 4th quarter valued at approximately $10,673,000. LMR Partners LLP acquired a new position in BellRing Brands during the 4th quarter valued at approximately $17,328,000. Raymond James Financial Inc. acquired a new position in BellRing Brands during the 4th quarter worth $18,356,000. Blue Trust Inc. boosted its position in BellRing Brands by 160.5% during the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company's stock worth $79,000 after acquiring an additional 647 shares during the period. Finally, Private Advisor Group LLC acquired a new position in BellRing Brands during the 4th quarter worth $228,000. Institutional investors and hedge funds own 94.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $60.58, for a total value of $96,928.00. Following the sale, the chief executive officer now owns 206,778 shares of the company's stock, valued at approximately $12,526,611.24. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,392 shares of company stock valued at $437,399 in the last three months. Insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI reduced their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Truist Financial reduced their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. DA Davidson upgraded 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. Barclays set a $75.00 price objective on BellRing Brands and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Mizuho cut their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.00.

BellRing Brands Price Performance

Shares of BRBR stock opened at $60.71 on Thursday. BellRing Brands Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock's 50-day moving average is $67.04 and its two-hundred day moving average is $71.74. The firm has a market cap of $7.71 billion, a P/E ratio of 28.24, a PEG ratio of 1.98 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the firm posted $0.45 EPS. The business's revenue was up 18.9% compared to the same quarter last year. As a group, research analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.

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