BellRing Brands, Inc. (NYSE:BRBR) Short Interest Update

BellRing Brands, Inc. (NYSE:BRBR) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,770,000 shares, a growth of 24.2% from the February 13th total of 2,230,000 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is presently 2.3 days.

BellRing Brands Stock Performance

NYSE BRBR opened at $68.24 on Wednesday. BellRing Brands has a twelve month low of $48.06 and a twelve month high of $80.67. The stock has a market capitalization of $8.75 billion, a PE ratio of 32.04, a P/E/G ratio of 2.24 and a beta of 0.85. The stock has a 50-day simple moving average of $73.54 and a 200 day simple moving average of $70.30.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities research analysts forecast that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now owns 1,166,691 shares in the company, valued at $87,851,832.30. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BellRing Brands

Large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares in the last quarter. Colonial Trust Co SC acquired a new position in BellRing Brands in the 4th quarter valued at approximately $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands in the 4th quarter valued at approximately $52,000. Truvestments Capital LLC acquired a new position in BellRing Brands in the 3rd quarter valued at approximately $44,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after acquiring an additional 643 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BRBR. Evercore ISI boosted their target price on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Stephens restated an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Truist Financial boosted their target price on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their target price on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.79.

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.