BellRing Brands Inc. $BRBR Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP reduced its stake in BellRing Brands Inc. by 47.8%, selling 27,371 shares and holding 29,880 shares worth $2.225 million at the end of Q1.
• BellRing Brands' board authorized a $400 million share repurchase plan, allowing the company to reacquire up to 7.7% of its stock, indicating that management believes the stock is undervalued.
• Several analysts have adjusted their price targets for BellRing Brands, with Barclays lowering it to $50.00, while Jefferies raised it to $82.00, reflecting a range of market sentiments on the stock.

Voleon Capital Management LP reduced its position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 47.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,880 shares of the company's stock after selling 27,371 shares during the period. Voleon Capital Management LP's holdings in BellRing Brands were worth $2,225,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in BellRing Brands by 20.2% during the first quarter. Goldman Sachs Group Inc. now owns 253,403 shares of the company's stock worth $18,868,000 after purchasing an additional 42,666 shares in the last quarter. Teza Capital Management LLC purchased a new position in BellRing Brands in the first quarter valued at about $270,000. PharVision Advisers LLC purchased a new position in BellRing Brands in the first quarter valued at about $408,000. Interval Partners LP increased its holdings in BellRing Brands by 10.7% in the first quarter. Interval Partners LP now owns 145,696 shares of the company's stock valued at $10,849,000 after buying an additional 14,115 shares in the last quarter. Finally, Hancock Whitney Corp increased its holdings in BellRing Brands by 4.7% in the first quarter. Hancock Whitney Corp now owns 11,401 shares of the company's stock valued at $849,000 after buying an additional 512 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRBR. Morgan Stanley dropped their target price on shares of BellRing Brands from $78.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Barclays lowered their price target on shares of BellRing Brands from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. 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 report on Wednesday, August 6th. Truist Financial lowered their price target on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group increased their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.80.

BellRing Brands Stock Performance

NYSE BRBR traded up $0.81 during mid-day trading on Friday, reaching $38.12. 2,536,348 shares of the stock were exchanged, compared to its average volume of 3,471,361. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67. The business's fifty day simple moving average is $46.43 and its 200 day simple moving average is $60.17. The stock has a market capitalization of $4.80 billion, a PE ratio of 21.78, a PEG ratio of 1.82 and a beta of 0.74.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm 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 earned $0.54 earnings per share. BellRing Brands's revenue was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. On average, analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Shawn Conway bought 1,316 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the transaction, the director owned 8,001 shares in the company, valued at $400,049,919.99. The trade was a 19.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the sale, the chief executive officer owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 6,616 shares of company stock worth $65,995,248 and have sold 11,200 shares worth $638,640. 1.07% of the stock is owned by company insiders.

About BellRing Brands

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.