Graham Capital Management L.P. Cuts Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Graham Capital Management L.P. reduced its position in BellRing Brands, Inc. (NYSE:BRBR) by 55.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,831 shares of the company’s stock after selling 10,930 shares during the period. Graham Capital Management L.P.’s holdings in BellRing Brands were worth $665,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new stake in BellRing Brands during the 4th quarter valued at $231,000. Focus Partners Wealth boosted its holdings in BellRing Brands by 13.6% in the fourth quarter. Focus Partners Wealth now owns 98,609 shares of the company’s stock valued at $7,429,000 after acquiring an additional 11,821 shares during the last quarter. Ensign Peak Advisors Inc raised its position in BellRing Brands by 15.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 86,018 shares of the company’s stock valued at $6,481,000 after purchasing an additional 11,390 shares during the period. Ethic Inc. purchased a new position in BellRing Brands in the fourth quarter valued at about $870,000. Finally, FORA Capital LLC purchased a new position in BellRing Brands in the fourth quarter valued at about $973,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction that occurred 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 directly owns 938,457 shares of the company’s stock, valued at $72,608,418.09. This trade represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,275 shares of company stock valued at $14,345,014 in the last three months. 1.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Truist Financial lowered their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 8th. Morgan Stanley initiated coverage on BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective for the company. Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Evercore ISI lowered their price objective on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.00.

BellRing Brands Trading Down 0.2%

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

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The company had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the company earned $0.45 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.