Pacer Advisors Inc. Has $747,000 Holdings in BellRing Brands Inc. (NYSE:BRBR)

Key Points

• Pacer Advisors Inc. has reduced its stake in BellRing Brands by 68.9%, selling 22,219 shares and retaining 10,029 shares valued at approximately $747,000.
• CEO Darcy Horn Davenport sold 1,600 shares at an average price of $54.43, resulting in a decrease of 0.81% in their ownership position, amounting to a total of 195,578 shares owned.
• BellRing Brands has received mixed analyst ratings, with three analysts recommending a hold and thirteen suggesting a buy, resulting in an average price target of $76.06.

Pacer Advisors Inc. cut its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 68.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,029 shares of the company's stock after selling 22,219 shares during the quarter. Pacer Advisors Inc.'s holdings in BellRing Brands were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BRBR. Versant Capital Management Inc raised 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 purchasing an additional 366 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock worth $33,000 after acquiring an additional 283 shares during the period. First Horizon Advisors Inc. grew its holdings in BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock worth $34,000 after acquiring an additional 340 shares during the period. Colonial Trust Co SC acquired a new stake in BellRing Brands during the fourth quarter worth about $44,000. Finally, Larson Financial Group LLC grew its holdings in BellRing Brands by 2,660.0% during the first quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $51,000 after acquiring an additional 665 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 1.7%

NYSE BRBR traded down $0.91 on Monday, reaching $53.20. 954,338 shares of the stock traded hands, compared to its average volume of 1,836,834. The firm's fifty day simple moving average is $58.69 and its 200 day simple moving average is $67.57. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.76 and a beta of 0.72. BellRing Brands Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

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

Insider Activity

In related news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $54.43, for a total transaction of $87,088.00. Following the sale, the chief executive officer directly owned 195,578 shares of the company's stock, valued at $10,645,310.54. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 12,800 shares of company stock valued at $749,536 over the last 90 days. Company insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BRBR. Citigroup cut their price objective 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. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Mizuho dropped their price target on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Jefferies Financial Group raised their price target on BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI dropped their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $76.06.

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.