Voya Investment Management LLC Boosts Position in BellRing Brands Inc. $BRBR

Key Points

• Voya Investment Management LLC has increased its holdings in BellRing Brands Inc. by 24.1% in the 1st quarter, owning approximately 248,024 shares valued at $18.47 million.
• Several hedge funds have adjusted their stakes in BellRing Brands, with notable increases from firms like TCTC Holdings LLC, which boosted its stake by 87.6%.
• BellRing Brands recently reported earnings of $0.55 per share, exceeding analysts' expectations, and announced a $400 million share repurchase plan, indicating management believes the stock is undervalued.

Voya Investment Management LLC boosted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 248,024 shares of the company's stock after buying an additional 48,140 shares during the quarter. Voya Investment Management LLC owned approximately 0.20% of BellRing Brands worth $18,468,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BellRing Brands in the first quarter worth approximately $280,000. GAMMA Investing LLC boosted its position in shares of BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock worth $172,000 after purchasing an additional 252 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of BellRing Brands by 0.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 72,051 shares of the company's stock worth $5,365,000 after purchasing an additional 438 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of BellRing Brands by 71.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,883 shares of the company's stock worth $661,000 after purchasing an additional 3,700 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of BellRing Brands by 31.6% in the first quarter. Janney Montgomery Scott LLC now owns 18,584 shares of the company's stock worth $1,384,000 after purchasing an additional 4,461 shares during the period. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BRBR shares. Jefferies Financial Group upped their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Truist Financial lowered their target price on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Evercore ISI lowered their target price on shares of BellRing Brands from $82.00 to $64.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. UBS Group lowered their target price on shares of BellRing Brands from $63.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, DA Davidson raised shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Tuesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.80.

Insider Activity

In other news, Director Shawn Conway bought 1,316 shares of BellRing Brands stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $49,999.99 per share, with a total value of $65,799,986.84. Following the completion of the purchase, the director owned 8,001 shares in the company, valued at $400,049,919.99. The trade was a 19.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig L. Rosenthal bought 2,600 shares of BellRing Brands stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the purchase, the insider owned 33,475 shares of the company's stock, valued at approximately $1,248,282.75. This trade represents a 8.42% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,616 shares of company stock valued at $65,995,248 and have sold 9,600 shares valued at $543,136. Insiders own 1.07% of the company's stock.

BellRing Brands Price Performance

Shares of BRBR traded down $0.68 during midday trading on Friday, hitting $36.00. The stock had a trading volume of 3,589,163 shares, compared to its average volume of 3,352,993. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67. The firm has a market cap of $4.54 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74. The stock's 50 day moving average is $44.29 and its 200 day moving average is $58.96.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, beating 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 the consensus estimate of $530.76 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business'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 expect that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a stock buyback program on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs 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.