Wellington Management Group LLP Trims Position in BellRing Brands Inc. $BRBR

Key Points

• Wellington Management Group LLP has reduced its stake in BellRing Brands Inc. by 3.4%, holding approximately 2.75% of the company's shares valued at $262.9 million after selling 124,361 shares.
• Several hedge funds significantly increased their positions in BellRing Brands, with D. E. Shaw & Co. and AQR Capital Management raising their stakes by 32.1% and 284.2% respectively in the fourth quarter.
• BellRing Brands' stock had a recent price target shift, with Morgan Stanley lowering their target from $78 to $58, while DA Davidson raised theirs from "neutral" to "buy" with a target of $85.

Wellington Management Group LLP trimmed its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,531,246 shares of the company's stock after selling 124,361 shares during the period. Wellington Management Group LLP owned 2.75% of BellRing Brands worth $262,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. raised its position in shares of BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after buying an additional 564,342 shares in the last quarter. AQR Capital Management LLC increased its stake in BellRing Brands by 284.2% in the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after acquiring an additional 1,685,525 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of BellRing Brands by 77.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,761,180 shares of the company's stock valued at $131,137,000 after acquiring an additional 768,595 shares in the last quarter. Bank of America Corp DE boosted its position in shares of BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock valued at $128,805,000 after acquiring an additional 724,337 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of BellRing Brands by 5.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,224,040 shares of the company's stock worth $92,219,000 after purchasing an additional 60,534 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

NYSE:BRBR traded up $0.2570 during trading hours on Friday, reaching $40.0370. The company's stock had a trading volume of 2,916,916 shares, compared to its average volume of 4,350,888. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.95 and a beta of 0.72. The firm has a 50-day simple moving average of $52.33 and a 200-day simple moving average of $63.83. BellRing Brands Inc. has a 1 year low of $34.02 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.06. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The firm had revenue of $547.50 million for the quarter, compared to analysts' expectations of $530.76 million. During the same period last year, the firm earned $0.54 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. Equities analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRBR. 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 research note on Wednesday, August 6th. Truist Financial decreased their price target 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. Citigroup dropped their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group upped their target price 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. Finally, Barclays lowered their price target on BellRing Brands from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.80.

Insider Buying and Selling at BellRing Brands

In other news, Director Shawn Conway purchased 1,316 shares of the company's stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $49,999.99 per share, with a total value of $65,799,986.84. Following the transaction, the director directly owned 8,001 shares of the company's stock, valued at approximately $400,049,919.99. This represents a 19.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig L. Rosenthal purchased 2,600 shares of the business's stock in a transaction on 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 acquisition, the insider owned 33,475 shares in the company, valued at approximately $1,248,282.75. The trade was a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,616 shares of company stock worth $65,995,248 and sold 14,400 shares worth $836,224. Corporate insiders own 1.07% of the company's stock.

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.