Mutual of America Capital Management LLC Sells 2,867 Shares of BellRing Brands Inc. $BRBR

Mutual of America Capital Management LLC decreased its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 4.3% in the second quarter, Holdings Channel reports. The institutional investor owned 63,157 shares of the company’s stock after selling 2,867 shares during the quarter. Mutual of America Capital Management LLC’s holdings in BellRing Brands were worth $3,659,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new position in BellRing Brands during the second quarter valued at $124,777,000. Davidson Investment Advisors purchased a new position in BellRing Brands during the second quarter valued at $18,358,000. Bayforest Capital Ltd purchased a new position in BellRing Brands during the second quarter valued at $116,000. Wilson Asset Management International PTY Ltd. raised its stake in BellRing Brands by 11.4% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 93,373 shares of the company’s stock valued at $5,409,000 after buying an additional 9,554 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in BellRing Brands by 1,080.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 38,803 shares of the company’s stock valued at $2,248,000 after buying an additional 35,515 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the sale, the chief executive officer owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shawn Conway purchased 1,316 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $49,999.99 per share, with a total value of $65,799,986.84. Following the acquisition, the director directly owned 8,001 shares of the company’s stock, valued at $400,049,919.99. This trade represents a 19.69% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,616 shares of company stock valued at $65,995,248. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock opened at $33.39 on Friday. The stock has a market cap of $4.21 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75. BellRing Brands Inc. has a one year low of $32.00 and a one year high of $80.67. The stock has a fifty day moving average of $37.04 and a 200 day moving average of $53.00.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The company had revenue of $282.40 million during the quarter. As a group, sell-side analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a stock buyback plan on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRBR. Zacks Research cut BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Barclays lowered their price objective on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Sanford C. Bernstein assumed coverage on BellRing Brands in a research note on Thursday. They issued an “outperform” rating and a $46.00 price target for the company. Morgan Stanley decreased their price target on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $63.13.

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.