GAMMA Investing LLC Grows Holdings in BellRing Brands, Inc. (NYSE:BRBR)

GAMMA Investing LLC increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 8,255.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,449 shares of the company's stock after purchasing an additional 170,385 shares during the quarter. GAMMA Investing LLC owned 0.13% of BellRing Brands worth $12,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after buying an additional 135,105 shares during the period. Franklin Resources Inc. grew its holdings in BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after acquiring an additional 96,991 shares during the period. Invesco Ltd. raised its position in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after acquiring an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP lifted its holdings in BellRing Brands by 32.6% in the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock valued at $275,413,000 after acquiring an additional 898,885 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock valued at $174,866,000 after acquiring an additional 564,342 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $62.91, for a total value of $100,656.00. Following the sale, the chief executive officer now directly owns 208,378 shares of the company's stock, valued at approximately $13,109,059.98. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 of the company's stock, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,392 shares of company stock valued at $437,399 over the last quarter. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

BellRing Brands stock traded up $1.10 during midday trading on Tuesday, reaching $61.24. 1,838,082 shares of the company were exchanged, compared to its average volume of 1,372,485. The firm's 50-day simple moving average is $68.33 and its 200-day simple moving average is $72.41. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.24 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a stock repurchase program on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BRBR. Citigroup lowered their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. UBS Group lowered their target price on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Mizuho dropped their target price on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Finally, Evercore ISI decreased their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $77.00.

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.