Picton Mahoney Asset Management Increases Position in BellRing Brands Inc. (NYSE:BRBR)

Key Points

• Picton Mahoney Asset Management increased its stake in BellRing Brands Inc. by 7.4%, acquiring an additional 10,541 shares, bringing its total ownership to 153,245 shares valued at approximately $11.41 million.
• Insider transactions revealed that CEO Darcy Horn Davenport sold 1,600 shares for about $87,088, reducing their ownership stake to 195,578 shares.
• Analysts have mixed ratings on BellRing Brands, with Jefferies setting a new price target of $82.00, while others have lowered their targets, resulting in a consensus rating of "Moderate Buy" and a target price of $76.06.

Picton Mahoney Asset Management increased its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,245 shares of the company's stock after buying an additional 10,541 shares during the period. Picton Mahoney Asset Management owned about 0.12% of BellRing Brands worth $11,410,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in 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 acquiring an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in 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 acquiring an additional 283 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in BellRing Brands by 283.3% during the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock worth $34,000 after acquiring an additional 340 shares in the last quarter. Colonial Trust Co SC acquired a new position in BellRing Brands during the 4th quarter worth approximately $44,000. Finally, Larson Financial Group LLC grew its holdings in BellRing Brands by 2,660.0% during the 1st quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $51,000 after acquiring an additional 665 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

BellRing Brands stock traded down $0.56 during trading hours on Friday, reaching $54.02. 1,118,531 shares of the stock were exchanged, compared to its average volume of 1,835,157. The stock has a market cap of $6.86 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.78 and a beta of 0.70. BellRing Brands Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm's 50 day moving average is $58.84 and its 200 day moving average is $67.77.

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, hitting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million during 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%. BellRing Brands's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities research analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BRBR has been the subject of several research analyst reports. Barclays set a $75.00 target price on shares of BellRing Brands and gave the company an "overweight" rating in a report on Wednesday, May 7th. Mizuho lowered their target price on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Truist Financial lowered their target price on shares of BellRing Brands from $65.00 to $60.00 and set a "hold" rating for the company in a report on Wednesday, July 2nd. Evercore ISI lowered their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup decreased their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.06.

Insider Buying and Selling

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $54.43, for a total transaction of $87,088.00. Following the completion of the transaction, the chief executive officer owned 195,578 shares in the company, valued at approximately $10,645,310.54. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 12,800 shares of company stock worth $749,536. 1.07% of the stock is currently owned by corporate 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.