Point72 Asset Management L.P. Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Point72 Asset Management L.P. decreased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,537,883 shares of the company's stock after selling 1,051,087 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.19% of BellRing Brands worth $115,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. SeaBridge Investment Advisors LLC lifted its stake in BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after purchasing an additional 142 shares during the last quarter. Fifth Third Bancorp lifted its stake in BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after buying an additional 153 shares during the last quarter. Dorsey Wright & Associates lifted its stake in BellRing Brands by 0.3% in the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock valued at $3,799,000 after buying an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after buying an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock valued at $264,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 44,249 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total value of $3,423,545.13. Following the completion of the transaction, the director now owns 938,457 shares in the company, valued at $72,608,418.09. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,207 shares of company stock worth $8,253,616. 1.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of research reports. Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Stephens reiterated an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. UBS Group reduced their price objective on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Finally, Truist Financial reduced their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $77.00.

BellRing Brands Stock Performance

NYSE:BRBR traded up $1.68 during trading hours on Friday, hitting $65.95. The company's stock had a trading volume of 1,923,934 shares, compared to its average volume of 1,297,695. The business's 50-day moving average is $71.60 and its two-hundred day moving average is $73.48. The company has a market capitalization of $8.46 billion, a PE ratio of 30.96, a PEG 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.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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 was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has authorized 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.