Northern Trust Corp Cuts Stake in BellRing Brands Inc. $BRBR

Key Points

• Northern Trust Corp reduced its stake in BellRing Brands Inc. by 3.7%, holding 1,074,097 shares after selling 41,360 shares in the first quarter.
• BellRing Brands reported a quarterly earnings of $0.55 EPS, surpassing analysts' expectations of $0.49, with revenue of $547.50 million.
• Thirteen analysts have rated BellRing Brands with a Buy rating, while the average price target is currently set at $64.80.

Northern Trust Corp lowered its position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,074,097 shares of the company's stock after selling 41,360 shares during the quarter. Northern Trust Corp owned 0.84% of BellRing Brands worth $79,977,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after purchasing an additional 1,685,525 shares during the period. Nuveen LLC acquired a new position in shares of BellRing Brands during the 1st quarter worth $71,004,000. Assenagon Asset Management S.A. grew its stake 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 during the period. Bank of America Corp DE grew its stake 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 during the period. Finally, D. E. Shaw & Co. Inc. grew its stake 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 during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BRBR shares. Evercore ISI lowered their price target on shares of BellRing Brands from $82.00 to $64.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. started coverage on shares of BellRing Brands in a research note on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price target on the stock. Stephens raised shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $68.00 to $50.00 in a research note on Wednesday, August 6th. Morgan Stanley lowered their price target on shares of BellRing Brands from $78.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Finally, DA Davidson raised 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 note on Tuesday, May 27th. 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, BellRing Brands currently has an average rating of "Moderate Buy" and a consensus price target of $64.80.

BellRing Brands Trading Up 0.6%

Shares of NYSE BRBR opened at $40.0370 on Monday. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.95 and a beta of 0.72. BellRing Brands Inc. has a 52 week low of $34.02 and a 52 week high of $80.67. The company's 50-day moving average price is $52.33 and its 200 day moving average price is $63.74.

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

Insider Activity at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the transaction, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shawn Conway bought 1,316 shares of BellRing Brands stock in a transaction on Thursday, August 14th. The stock was purchased 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 in the company, valued at $400,049,919.99. This represents a 19.69% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 6,616 shares of company stock valued at $65,995,248 and have sold 14,400 shares valued at $836,224. 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.

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.