Sarasin & Partners LLP Sells 10,000 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Sarasin & Partners LLP trimmed its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 10,000 shares during the period. Sarasin & Partners LLP's holdings in BellRing Brands were worth $3,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC purchased a new stake in BellRing Brands in the fourth quarter worth about $202,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in BellRing Brands by 10.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,183 shares of the company's stock worth $390,000 after acquiring an additional 500 shares in the last quarter. Empowered Funds LLC raised its stake in BellRing Brands by 6.9% during the 4th quarter. Empowered Funds LLC now owns 74,649 shares of the company's stock worth $5,624,000 after acquiring an additional 4,805 shares during the period. Entropy Technologies LP raised its stake in BellRing Brands by 28.6% during the 4th quarter. Entropy Technologies LP now owns 30,575 shares of the company's stock worth $2,304,000 after acquiring an additional 6,798 shares during the period. Finally, Stephens Inc. AR purchased a new position in BellRing Brands during the fourth quarter valued at approximately $266,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of analyst reports. Citigroup reduced their price objective 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. Morgan Stanley started coverage on BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target for the company. Truist Financial lowered their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Mizuho cut their target price on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Finally, DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, BellRing Brands presently has an average rating of "Moderate Buy" and an average target price of $77.00.

Insider Transactions at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.58, for a total value of $96,928.00. Following the sale, the chief executive officer now directly owns 206,778 shares in the company, valued at approximately $12,526,611.24. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,392 shares of company stock worth $437,399. 1.07% of the stock is currently owned by insiders.

BellRing Brands Stock Performance

Shares of BRBR traded down $1.57 during mid-day trading on Friday, hitting $58.54. 2,155,545 shares of the stock were exchanged, compared to its average volume of 1,384,190. The company has a market cap of $7.43 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.74. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a 50-day moving average of $67.70 and a two-hundred day moving average of $72.06.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. BellRing Brands's revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has approved a share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

BellRing Brands 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.