13,505 Shares in BellRing Brands Inc. (NYSE:BRBR) Bought by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC purchased a new position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,505 shares of the company's stock, valued at approximately $997,000.

Several other institutional investors and hedge funds have also bought and sold shares of BRBR. TT International Asset Management LTD bought a new stake in shares of BellRing Brands in the 1st quarter worth approximately $1,828,000. Friedenthal Financial bought a new stake in shares of BellRing Brands in the 1st quarter worth approximately $890,000. State of Alaska Department of Revenue grew its position in shares of BellRing Brands by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 15,028 shares of the company's stock worth $1,118,000 after buying an additional 290 shares during the last quarter. Wolf Group Capital Advisors bought a new stake in shares of BellRing Brands in the 1st quarter worth approximately $1,201,000. Finally, Janney Montgomery Scott LLC grew its position in shares of BellRing Brands by 31.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company's stock worth $1,384,000 after buying an additional 4,461 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $62.91, for a total value of $100,656.00. Following the completion of the transaction, the chief executive officer now owns 208,378 shares of the company's stock, valued at $13,109,059.98. This represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,992 shares of company stock worth $532,903. 1.07% of the stock is owned by insiders.

BellRing Brands Trading Up 2.2%

NYSE:BRBR traded up $1.26 during trading hours on Friday, reaching $58.52. 5,064,201 shares of the company traded hands, compared to its average volume of 1,441,707. The business's 50-day moving average price is $64.83 and its two-hundred day moving average price is $70.85. The stock has a market capitalization of $7.43 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.81 and a beta of 0.74. BellRing Brands Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 27th. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Truist Financial cut their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Evercore ISI lowered their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup lowered their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.