Vident Advisory LLC Boosts Position in BellRing Brands Inc. $BRBR

Key Points

• Vident Advisory LLC significantly increased its stake in BellRing Brands Inc., acquiring 6,909 shares and raising its holdings by 221.9%, which are now valued at $746,000.
• BellRing Brands has recently implemented a $400 million share buyback program, signaling the board's belief that its stock may be undervalued.
• The company's recent earnings report showed an EPS of $0.55, outperforming estimates and marking a 6.2% revenue increase year-over-year, with revenues reaching $547.5 million.

Vident Advisory LLC lifted its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 221.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,022 shares of the company's stock after buying an additional 6,909 shares during the quarter. Vident Advisory LLC's holdings in BellRing Brands were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BRBR. Versant Capital Management Inc raised its position in 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 in the last quarter. TCTC Holdings LLC increased its holdings in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company's stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 worth $33,000 after acquiring an additional 283 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of BellRing Brands by 283.3% in the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in BellRing Brands by 149.8% in the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company's stock valued at $38,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

Insider Transactions at BellRing Brands

In related news, insider Craig L. Rosenthal bought 2,600 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the purchase, the insider directly owned 33,475 shares in the company, valued at $1,248,282.75. The trade was a 8.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the transaction, the chief executive officer owned 193,978 shares of the company's stock, valued at $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 6,616 shares of company stock valued at $65,995,248 and have sold 11,200 shares valued at $638,640. Insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BRBR shares. Evercore ISI cut their target price on BellRing Brands from $82.00 to $64.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Truist Financial dropped their price objective on BellRing Brands from $60.00 to $40.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. initiated coverage on shares of BellRing Brands in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $52.00 price target on the stock. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Tuesday, May 27th. Finally, Stephens upgraded shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $68.00 to $50.00 in a research note on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.80.

BellRing Brands Trading Down 2.5%

Shares of NYSE:BRBR traded down $0.93 on Wednesday, reaching $36.78. 3,504,375 shares of the company's stock were exchanged, compared to its average volume of 3,442,831. BellRing Brands Inc. has a twelve month low of $34.02 and a twelve month high of $80.67. The company has a fifty day moving average of $47.22 and a 200-day moving average of $60.65. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.84 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.06. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $530.76 million. During the same quarter last year, the business posted $0.54 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. BellRing Brands has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are 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.