Intech Investment Management LLC Reduces Stake in BellRing Brands Inc. $BRBR

Key Points

• Intech Investment Management LLC reduced its stake in BellRing Brands by 24.4%, selling 45,567 shares and now owns approximately 0.11% of the company valued at $10.5 million.
• BellRing Brands has initiated a $400 million share repurchase program, indicating the board's belief that the stock is undervalued.
• Research analysts have mixed outlooks, with the average target price for the stock adjusted to $64.80, amid upgraded and downgraded ratings from various firms.

Intech Investment Management LLC trimmed its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,405 shares of the company's stock after selling 45,567 shares during the quarter. Intech Investment Management LLC owned approximately 0.11% of BellRing Brands worth $10,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its stake in BellRing Brands by 0.9% in the first quarter. Xponance Inc. now owns 15,221 shares of the company's stock valued at $1,133,000 after acquiring an additional 142 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in BellRing Brands by 2.5% in the first quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company's stock valued at $478,000 after acquiring an additional 157 shares during the last quarter. McIlrath & Eck LLC boosted its stake in BellRing Brands by 13.6% in the first quarter. McIlrath & Eck LLC now owns 1,413 shares of the company's stock valued at $105,000 after acquiring an additional 169 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of BellRing Brands by 5.0% during the 1st quarter. Stephens Inc. AR now owns 3,705 shares of the company's stock valued at $276,000 after buying an additional 175 shares in the last quarter. Finally, TCTC Holdings LLC lifted its stake in shares of BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after buying an additional 190 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Shawn Conway bought 1,316 shares of the stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the purchase, the director directly owned 8,001 shares of the company's stock, valued at $400,049,919.99. This trade represents a 19.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig L. Rosenthal bought 2,600 shares of the stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the purchase, the insider directly owned 33,475 shares in the company, valued at approximately $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 6,616 shares of company stock worth $65,995,248 and have sold 11,200 shares worth $638,640. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Price Performance

NYSE BRBR opened at $36.78 on Thursday. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67. The stock has a market capitalization of $4.63 billion, a PE ratio of 21.01, a P/E/G ratio of 1.84 and a beta of 0.74. The company's 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $60.65.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $547.50 million for the quarter, compared to analysts' expectations of $530.76 million. During the same period in the prior year, the company posted $0.54 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. On average, research analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has initiated a share repurchase program on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stephens upgraded shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $68.00 to $50.00 in a research note on Wednesday, August 6th. Mizuho reduced their price objective on shares of BellRing Brands from $75.00 to $45.00 and set an "outperform" rating for the company in a research note on Monday, August 18th. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research note on Tuesday, May 27th. Truist Financial reduced their price objective on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Finally, Evercore ISI reduced their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Thirteen research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $64.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.