BellRing Brands (NYSE:BRBR) Trading 5.5% Higher – Here’s What Happened

by · The Markets Daily

Shares of BellRing Brands Inc. (NYSE:BRBR – Get Free Report) rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $32.35 and last traded at $32.24. Approximately 1,179,518 shares changed hands during trading, a decline of 54% from the average daily volume of 2,542,201 shares. The stock had previously closed at $30.55.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BRBR shares. Barclays cut their price objective on shares of BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Evercore ISI reduced their price objective on BellRing Brands from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Mizuho decreased their price objective on BellRing Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 24th. UBS Group restated a “neutral” rating and issued a $34.00 target price on shares of BellRing Brands in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. reduced their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.53.

View Our Latest Stock Analysis on BellRing Brands

BellRing Brands Price Performance

The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 4.08 and a beta of 0.67. The company’s 50-day simple moving average is $31.34 and its 200-day simple moving average is $43.19.

BellRing Brands (NYSE:BRBR – Get Free Report) last released its quarterly earnings results on Tuesday, November 18th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The business had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. During the same quarter last year, the company posted $0.51 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Research analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,970 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the sale, the insider directly owned 54,812 shares in the company, valued at $1,695,335.16. This represents a 6.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.07% of the company’s stock.

Institutional Trading of BellRing Brands

Several institutional investors have recently added to or reduced their stakes in BRBR. PNC Financial Services Group Inc. boosted its stake in shares of BellRing Brands by 5.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,071 shares of the company’s stock valued at $675,000 after purchasing an additional 451 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of BellRing Brands by 41.5% in the 1st quarter. Deutsche Bank AG now owns 505,353 shares of the company’s stock valued at $37,629,000 after purchasing an additional 148,110 shares during the period. Headlands Technologies LLC bought a new stake in shares of BellRing Brands during the 1st quarter valued at about $91,000. Townsquare Capital LLC bought a new stake in shares of BellRing Brands during the 1st quarter valued at about $334,000. Finally, Nuveen LLC bought a new position in shares of BellRing Brands during the 1st quarter worth approximately $71,004,000. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Company Profile

(Get Free Report)

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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