BellRing Brands Inc. (NYSE:BRBR) Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has reduced its stake in BellRing Brands Inc. by 58.1% in the first quarter, now holding 4,148 shares valued at approximately $309,000.
• Several institutional investors have increased their positions in BellRing, including IFP Advisors Inc, which raised its stake by 78.9%, owning 2,891 shares worth $215,000.
• Analysts have mixed views on BellRing Brands, with a consensus target price of $76.06 and a majority rating it with a "buy".

Y Intercept Hong Kong Ltd cut its stake in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 58.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,148 shares of the company's stock after selling 5,763 shares during the period. Y Intercept Hong Kong Ltd's holdings in BellRing Brands were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BRBR. LPL Financial LLC increased its stake in shares of BellRing Brands by 40.9% during the 4th quarter. LPL Financial LLC now owns 37,514 shares of the company's stock worth $2,826,000 after purchasing an additional 10,882 shares in the last quarter. Norges Bank purchased a new position in shares of BellRing Brands during the 4th quarter worth approximately $114,185,000. Pictet Asset Management Holding SA increased its stake in shares of BellRing Brands by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,246 shares of the company's stock worth $1,450,000 after purchasing an additional 1,657 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of BellRing Brands by 17.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,587 shares of the company's stock worth $873,000 after purchasing an additional 1,715 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after purchasing an additional 898,885 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $54.43, for a total value of $87,088.00. Following the completion of the sale, the chief executive officer owned 195,578 shares of the company's stock, valued at approximately $10,645,310.54. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 12,800 shares of company stock valued at $749,536. 1.07% of the stock is currently owned by insiders.

BellRing Brands Price Performance

BellRing Brands stock traded down $0.46 during midday trading on Friday, hitting $54.12. 2,276,940 shares of the stock were exchanged, compared to its average volume of 1,843,802. BellRing Brands Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm has a market cap of $6.87 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.78 and a beta of 0.70. The company has a 50 day moving average price of $58.84 and a two-hundred day moving average price of $67.77.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on BRBR shares. Barclays set a $75.00 target price on shares of BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Truist Financial decreased their target price on shares of BellRing Brands from $65.00 to $60.00 and set a "hold" rating on the stock in a research report on Wednesday, July 2nd. Citigroup decreased their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Tuesday, May 27th. Finally, Jefferies Financial Group lifted their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.06.

BellRing Brands 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.