Wealth Enhancement Advisory Services LLC Sells 26,609 Shares of BellRing Brands Inc. $BRBR

Key Points

• Wealth Enhancement Advisory Services LLC significantly cut its stake in BellRing Brands Inc., selling 26,609 shares and reducing its holdings by 83.7% in the second quarter.
• BellRing Brands recently initiated a $400 million stock repurchase plan, indicating that the board believes the company's shares are undervalued.
• The company reported $0.55 earnings per share for the last quarter, surpassing analysts' expectations and showing a 6.2% revenue increase year-over-year.

Wealth Enhancement Advisory Services LLC reduced its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 83.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,196 shares of the company's stock after selling 26,609 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in BellRing Brands were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BRBR. TCTC Holdings LLC boosted its position in 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 buying an additional 190 shares in the last quarter. First Horizon Advisors Inc. raised its stake in BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock worth $34,000 after buying an additional 340 shares during the last quarter. Smartleaf Asset Management LLC grew 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 worth $38,000 after purchasing an additional 310 shares during the period. Larson Financial Group LLC grew its holdings in BellRing Brands by 2,660.0% in the first quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $51,000 after purchasing an additional 665 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in BellRing Brands by 287.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company's stock worth $65,000 after buying an additional 649 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the transaction, the chief executive officer directly owned 193,978 shares in the company, valued at $10,509,728.04. This represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig L. Rosenthal bought 2,600 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the acquisition, the insider owned 33,475 shares in the company, valued at $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,616 shares of company stock worth $65,995,248 and have sold 6,400 shares worth $358,352. Insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

NYSE BRBR opened at $34.81 on Thursday. The company has a market capitalization of $4.39 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.62 and a beta of 0.75. The stock has a 50 day moving average price of $39.02 and a 200-day moving average price of $56.02. BellRing Brands Inc. has a one year low of $33.72 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly 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. The company had revenue of $547.50 million during the quarter, compared to the consensus estimate of $530.76 million. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.BellRing Brands's revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. BellRing Brands has set its FY 2025 guidance at EPS. As a group, equities analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has initiated a stock repurchase plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on BellRing Brands in a research report on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price target on the stock. Stephens raised shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $68.00 to $50.00 in a research note on Wednesday, August 6th. Mizuho decreased their price target on shares of BellRing Brands from $75.00 to $45.00 and set an "outperform" rating on the stock in a research note on Monday, August 18th. Jefferies Financial Group lifted their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, UBS Group reduced their price objective on shares of BellRing Brands from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and an average target price of $64.73.

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.

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