Graham Capital Management L.P. Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Graham Capital Management L.P. lowered its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 55.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,831 shares of the company's stock after selling 10,930 shares during the quarter. Graham Capital Management L.P.'s holdings in BellRing Brands were worth $665,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. SeaBridge Investment Advisors LLC lifted its holdings in shares of BellRing Brands by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after buying an additional 142 shares during the period. Fifth Third Bancorp lifted its holdings in shares of BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after buying an additional 153 shares during the period. Dorsey Wright & Associates lifted its holdings in shares of BellRing Brands by 0.3% in the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after buying an additional 163 shares during the period. Argonautica Private Wealth Management Inc. raised its position in shares of BellRing Brands by 3.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after acquiring an additional 185 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after purchasing an additional 188 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BRBR shares. Mizuho upped their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Citigroup decreased their price objective on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Stephens restated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Evercore ISI reduced their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays set a $75.00 target price on BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.00.

BellRing Brands Stock Down 0.2%

BellRing Brands stock opened at $63.51 on Thursday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The business's 50-day moving average price is $71.65 and its 200 day moving average price is $73.44.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. BellRing Brands's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. Equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Robert V. Vitale sold 44,249 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the completion of the transaction, the director now directly owns 938,457 shares of the company's stock, valued at $72,608,418.09. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,275 shares of company stock valued at $14,345,014. Insiders own 1.07% of the company's stock.

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.

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