New York State Teachers Retirement System Has $8.58 Million Stake in BellRing Brands Inc. $BRBR

New York State Teachers Retirement System decreased its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,095 shares of the company’s stock after selling 3,143 shares during the quarter. New York State Teachers Retirement System’s holdings in BellRing Brands were worth $8,579,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Maseco LLP acquired a new stake in shares of BellRing Brands during the 2nd quarter worth approximately $25,000. TCTC Holdings LLC grew its holdings in BellRing Brands by 87.6% during the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares during the period. First Horizon Advisors Inc. grew its holdings in BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares during the period. Smartleaf Asset Management LLC grew its holdings in BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 310 shares during the period. Finally, Larson Financial Group LLC grew its holdings in BellRing Brands by 2,660.0% during the first quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $51,000 after purchasing an additional 665 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR opened at $32.95 on Monday. BellRing Brands Inc. has a twelve month low of $32.72 and a twelve month high of $80.67. The firm’s 50 day moving average price is $37.50 and its two-hundred day moving average price is $53.79. The firm has a market cap of $4.15 billion, a P/E ratio of 18.83, a PEG ratio of 1.61 and a beta of 0.75.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. The firm had revenue of $282.40 million for the quarter. On average, sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of BellRing Brands from $75.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, August 18th. Morgan Stanley decreased their price objective on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Barclays decreased their price objective on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, UBS Group decreased their price objective on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.27.

Insider Transactions at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer owned 193,978 shares of the company’s stock, valued at $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig L. Rosenthal acquired 2,600 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the transaction, the insider owned 33,475 shares of the company’s stock, valued at $1,248,282.75. This represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,616 shares of company stock valued at $65,995,248 over the last 90 days. 1.07% of the stock is owned by corporate insiders.

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.