Two Sigma Investments LP Decreases Stake in BellRing Brands, Inc. (NYSE:BRBR)

Two Sigma Investments LP reduced its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 72.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,033 shares of the company's stock after selling 124,000 shares during the quarter. Two Sigma Investments LP's holdings in BellRing Brands were worth $3,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in BellRing Brands by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock worth $1,012,419,000 after purchasing an additional 135,105 shares in the last quarter. Franklin Resources Inc. raised its holdings in BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after purchasing an additional 96,991 shares in the last quarter. Invesco Ltd. raised its holdings in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after purchasing an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after acquiring an additional 898,885 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of BellRing Brands by 32.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after acquiring an additional 564,342 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $62.91, for a total transaction of $100,656.00. Following the completion of the sale, the chief executive officer now directly owns 208,378 shares of the company's stock, valued at approximately $13,109,059.98. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated 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 $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

BRBR has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. Truist Financial dropped their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Evercore ISI dropped their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Mizuho dropped their target price on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Barclays set a $75.00 target price on BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

BellRing Brands Trading Up 0.4%

BellRing Brands stock traded up $0.27 during mid-day trading on Tuesday, hitting $63.26. The company had a trading volume of 1,832,345 shares, compared to its average volume of 1,351,645. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.24 and a beta of 0.86. The company's fifty day moving average is $69.69 and its 200-day moving average is $72.89.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its 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. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter last year, the firm posted $0.45 EPS. The business's revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors 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.