TT International Asset Management LTD Makes New Investment in BellRing Brands Inc. (NYSE:BRBR)

TT International Asset Management LTD purchased a new stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,552 shares of the company's stock, valued at approximately $1,828,000.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 366 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after purchasing an additional 283 shares during the period. Colonial Trust Co SC acquired a new position in shares of BellRing Brands during the fourth quarter valued at $44,000. Aster Capital Management DIFC Ltd increased its holdings in shares of BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after purchasing an additional 643 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 591 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction dated 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 owns 206,778 shares of the company's stock, valued at $12,526,611.24. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,392 shares of company stock worth $437,399 in the last quarter. 1.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research reports. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Tuesday, May 27th. UBS Group decreased their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Truist Financial decreased their target price on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Mizuho decreased their target price on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Finally, Citigroup decreased their target price on 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

BellRing Brands Stock Performance

Shares of NYSE:BRBR traded down $1.98 during midday trading on Friday, reaching $58.77. The company had a trading volume of 2,974,881 shares, compared to its average volume of 1,403,459. BellRing Brands Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.85 and a beta of 0.74. The company has a fifty day simple moving average of $66.45 and a two-hundred day simple moving average of $71.41.

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 for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The business had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same quarter last year, the company posted $0.45 EPS. BellRing Brands's revenue for the quarter was up 18.9% on a year-over-year basis. Analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has approved a share buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

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.