LGT Fund Management Co Ltd. Invests $2.57 Million in BellRing Brands Inc. (NYSE:BRBR)

Key Points

• LGT Fund Management Co Ltd. has initiated a new investment in BellRing Brands Inc. by purchasing 34,500 shares valued at approximately $2.57 million during the first quarter.
• BellRing Brands reported a Q2 earnings per share (EPS) of $0.55, surpassing estimates by $0.06, and experienced a 6.2% year-over-year revenue increase to $547.5 million.
• Recent analyst reports have led to mixed target price adjustments for BellRing Brands, with upgrades and downgrades influencing its average target price to $67.86.

LGT Fund Management Co Ltd. purchased a new position in BellRing Brands Inc. (NYSE:BRBR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 34,500 shares of the company's stock, valued at approximately $2,569,000.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 366 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company's stock worth $30,000 after acquiring an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in BellRing Brands by 175.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after buying an additional 283 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in BellRing Brands by 283.3% in the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after buying an additional 340 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in BellRing Brands in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Down 3.8%

Shares of NYSE:BRBR traded down $1.50 during trading on Thursday, hitting $38.03. 2,395,949 shares of the company traded hands, compared to its average volume of 4,312,105. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.93 and a beta of 0.72. The business's fifty day moving average is $54.78 and its 200-day moving average is $65.49. BellRing Brands Inc. has a one year low of $34.02 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.49 by $0.06. The company had revenue of $547.50 million during the quarter, compared to analyst estimates of $530.76 million. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. The business's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. On average, analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on BRBR shares. Mizuho lowered their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Stephens raised BellRing Brands from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $68.00 to $50.00 in a report on Wednesday, August 6th. Citigroup lowered their price objective on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a report on Tuesday, May 27th. Finally, UBS Group lowered their price objective on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.86.

Insider Activity

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the transaction, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shawn Conway acquired 2,700 shares of BellRing Brands stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $36.41 per share, with a total value of $98,307.00. Following the completion of the transaction, the director owned 6,685 shares of the company's stock, valued at approximately $243,400.85. This trade represents a 67.75% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 14,400 shares of company stock valued at $836,224. 1.07% of the stock is currently owned by insiders.

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.