Janney Montgomery Scott LLC Has $1.38 Million Holdings in BellRing Brands Inc. (NYSE:BRBR)

Janney Montgomery Scott LLC grew its stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,584 shares of the company's stock after buying an additional 4,461 shares during the quarter. Janney Montgomery Scott LLC's holdings in BellRing Brands were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after buying an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock worth $33,000 after buying an additional 283 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of BellRing Brands during the 4th quarter worth about $44,000. Aster Capital Management DIFC Ltd raised its position in shares of BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after buying an additional 643 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after buying an additional 591 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 2.2%

Shares of BellRing Brands stock traded up $1.26 during trading on Friday, hitting $58.52. The stock had a trading volume of 5,064,201 shares, compared to its average volume of 1,372,120. The stock has a 50 day simple moving average of $64.83 and a 200 day simple moving average of $70.81. 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 $7.43 billion, a PE ratio of 27.22, a P/E/G ratio of 1.85 and a beta of 0.74.

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

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

Insiders Place Their Bets

In other news, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $59.69, for a total transaction of $95,504.00. Following the completion of the sale, the chief executive officer now owns 203,578 shares of the company's stock, valued at $12,151,570.82. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,992 shares of company stock valued at $532,903 over the last ninety days. Corporate insiders own 1.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on BRBR shares. DA Davidson upgraded 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. 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 report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price on the stock. Truist Financial dropped their target price on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Finally, Evercore ISI dropped their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.00.

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.