Junto Capital Management LP Acquires New Shares in BellRing Brands Inc. $BRBR

Key Points

• Junto Capital Management LP purchased 1,312,455 shares of BellRing Brands Inc., valued at approximately $97.7 million, making it the 10th largest position in their portfolio.
• Insider transactions at BellRing Brands include CEO Darcy Horn Davenport selling 1,600 shares, while another insider, Craig L. Rosenthal, bought 2,600 shares, indicating mixed signals from corporate insiders regarding their confidence in the stock.
• Analyst upgrades for BellRing Brands have been mixed, with firms like Stephens raising their rating but lowering price targets significantly, while the consensus rating remains a "Moderate Buy" with a price target of $64.80.

Junto Capital Management LP acquired a new position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,312,455 shares of the company's stock, valued at approximately $97,725,000. BellRing Brands makes up about 2.0% of Junto Capital Management LP's investment portfolio, making the stock its 10th biggest holding. Junto Capital Management LP owned approximately 1.02% of BellRing Brands as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its holdings in shares of BellRing Brands by 32.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after purchasing an additional 564,342 shares in the last quarter. Axiom Investors LLC DE grew its holdings in shares of BellRing Brands by 418.1% during the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company's stock worth $167,455,000 after purchasing an additional 1,814,811 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of BellRing Brands by 77.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company's stock worth $131,137,000 after purchasing an additional 768,595 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock worth $128,805,000 after purchasing an additional 724,337 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of BellRing Brands by 19.4% during the 1st quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company's stock worth $108,824,000 after purchasing an additional 237,475 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore ISI cut their target price on BellRing Brands from $82.00 to $64.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley cut their target price on BellRing Brands from $78.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Truist Financial cut their target price on BellRing Brands from $60.00 to $40.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Citigroup cut their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays cut their target price on BellRing Brands from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.80.

BellRing Brands Price Performance

Shares of BRBR stock traded up $0.41 on Thursday, reaching $42.28. 984,185 shares of the stock were exchanged, compared to its average volume of 2,193,329. The stock has a market cap of $5.33 billion, a PE ratio of 24.17, a P/E/G ratio of 2.00 and a beta of 0.74. BellRing Brands Inc. has a one year low of $34.02 and a one year high of $80.67. The stock has a 50 day moving average price of $49.17 and a 200 day moving average price of $61.94.

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

BellRing Brands announced that its board has approved a share repurchase plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Shawn Conway acquired 1,316 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Craig L. Rosenthal acquired 2,600 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $37.29 per share, with a total value of $96,954.00. Following the acquisition, the insider directly owned 33,475 shares of the company's stock, valued at $1,248,282.75. The trade was a 8.42% increase in their position. The disclosure for this purchase 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 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.