Teacher Retirement System of Texas Increases Position in BellRing Brands Inc. $BRBR

Teacher Retirement System of Texas boosted its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 45.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,642 shares of the company’s stock after acquiring an additional 41,138 shares during the period. Teacher Retirement System of Texas owned 0.10% of BellRing Brands worth $7,626,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BRBR. Maseco LLP purchased a new stake in BellRing Brands during the 2nd quarter valued at about $25,000. TCTC Holdings LLC grew its stake in BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after acquiring an additional 190 shares in the last quarter. First Horizon Advisors Inc. grew its stake in BellRing Brands by 283.3% during the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after acquiring an additional 340 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in BellRing Brands by 149.8% in the 1st 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 last quarter. Finally, Larson Financial Group LLC boosted its holdings in BellRing Brands by 2,660.0% in the 1st 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 last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BRBR shares. Barclays decreased their target price on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of BellRing Brands in a report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Stifel Nicolaus decreased their target price on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, Evercore ISI decreased their target price on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.56.

Insider Transactions at BellRing Brands

In related news, insider Craig L. Rosenthal acquired 2,600 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the acquisition, the insider owned 33,475 shares in the company, valued at $1,248,282.75. The trade was a 8.42% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the sale, the chief executive officer owned 193,978 shares in the company, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 6,616 shares of company stock worth $65,995,248. 1.07% of the stock is currently owned by insiders.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $30.87 on Thursday. The firm’s 50 day moving average price is $36.42 and its 200-day moving average price is $51.57. BellRing Brands Inc. has a one year low of $30.44 and a one year high of $80.67. The firm has a market cap of $3.89 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.54 and a beta of 0.75.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS 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. As a group, research 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 share buyback program on Tuesday, September 2nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

BellRing Brands Company 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.