Ieq Capital LLC Sells 43,819 Shares of BellRing Brands Inc. $BRBR

Key Points

• Ieq Capital LLC decreased its stake in BellRing Brands by 30.9%, now owning 97,845 shares valued at approximately $7.3 million.
• Several hedge funds have increased their holdings in BellRing Brands, such as Hsbc Holdings PLC, which grew its stake by 155.7%.
• BellRing Brands reported its quarterly earnings, with earnings per share of $0.55, exceeding expectations and showing a 6.2% revenue increase year-over-year.

Ieq Capital LLC trimmed its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,845 shares of the company's stock after selling 43,819 shares during the period. Ieq Capital LLC owned 0.08% of BellRing Brands worth $7,286,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in BellRing Brands during the 1st quarter valued at about $280,000. GAMMA Investing LLC lifted its position in BellRing Brands by 12.2% during the 1st quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock valued at $172,000 after acquiring an additional 252 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in BellRing Brands by 0.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 72,051 shares of the company's stock valued at $5,365,000 after acquiring an additional 438 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in BellRing Brands by 71.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,883 shares of the company's stock valued at $661,000 after acquiring an additional 3,700 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in BellRing Brands by 31.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company's stock valued at $1,384,000 after acquiring an additional 4,461 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

Shares of BRBR traded up $0.14 during mid-day trading on Wednesday, hitting $41.76. 741,517 shares of the company traded hands, compared to its average volume of 2,186,910. The stock has a 50-day moving average price of $49.51 and a two-hundred day moving average price of $62.08. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.00 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The firm had revenue of $547.50 million during the quarter, compared to analysts' expectations of $530.76 million. During the same period in the previous year, the company earned $0.54 earnings per share. The firm's quarterly revenue was up 6.2% on a year-over-year basis. BellRing Brands has set its FY 2025 guidance at EPS. On average, analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Evercore ISI decreased their target price on shares of BellRing Brands from $82.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Jefferies Financial Group lifted their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. started coverage on shares of BellRing Brands in a report on Wednesday, August 20th. They issued an "overweight" rating and a $52.00 target price for the company. Finally, Mizuho decreased their target price on shares of BellRing Brands from $75.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, August 18th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.80.

Insider Activity

In related news, insider Craig L. Rosenthal acquired 2,600 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was purchased 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 directly owned 33,475 shares of the company's stock, valued at approximately $1,248,282.75. This trade represents a 8.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the sale, the chief executive officer owned 193,978 shares of the company's stock, valued at $10,509,728.04. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 6,616 shares of company stock valued at $65,995,248 and sold 12,800 shares valued at $735,568. 1.07% of the stock is owned by corporate insiders.

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.