GAMMA Investing LLC Acquires 170,385 Shares of BellRing Brands, Inc. (NYSE:BRBR)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of BellRing Brands by 274.7% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company's stock worth $114,000 after purchasing an additional 1,107 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of BellRing Brands in the fourth quarter worth $202,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of BellRing Brands by 10.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,183 shares of the company's stock worth $390,000 after purchasing an additional 500 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of BellRing Brands in the fourth quarter worth $10,542,000. Finally, Empowered Funds LLC raised its position in BellRing Brands by 6.9% during the fourth quarter. Empowered Funds LLC now owns 74,649 shares of the company's stock worth $5,624,000 after acquiring an additional 4,805 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Mizuho dropped their price target on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. DA Davidson raised shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday, May 27th. Finally, Evercore ISI dropped their price target on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $77.00.

BellRing Brands Trading Down 1.1%

BRBR stock traded down $0.68 during trading hours on Friday, hitting $60.96. 2,248,830 shares of the stock were exchanged, compared to its average volume of 1,367,597. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The firm has a market capitalization of $7.74 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.24 and a beta of 0.74. The company has a 50-day simple moving average of $68.91 and a two-hundred day simple moving average of $72.64.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $577.56 million. During the same period in the prior year, the company posted $0.45 earnings per share. BellRing Brands's revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $100,656.00. Following the transaction, 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 through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the firm'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 transaction, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

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.