Numerai GP LLC Invests $2.49 Million in BellRing Brands, Inc. (NYSE:BRBR)

Numerai GP LLC acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 33,018 shares of the company’s stock, valued at approximately $2,488,000. BellRing Brands comprises 0.7% of Numerai GP LLC’s investment portfolio, making the stock its 29th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC raised its stake in BellRing Brands by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock worth $1,337,000 after acquiring an additional 142 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after purchasing an additional 153 shares during the period. Dorsey Wright & Associates raised its stake in shares of BellRing Brands by 0.3% in the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock worth $3,799,000 after purchasing an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its stake in shares of BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after purchasing an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of BellRing Brands by 5.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock worth $264,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert V. Vitale sold 15,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,275 shares of company stock valued at $14,345,014. 1.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on BRBR. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the company an “overweight” rating in a report on Wednesday, May 7th. Mizuho boosted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley assumed coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, Evercore ISI decreased 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $77.00.

BellRing Brands Stock Down 2.3%

BRBR stock opened at $63.61 on Wednesday. The firm has a market cap of $8.16 billion, a P/E ratio of 29.86, a PEG ratio of 2.24 and a beta of 0.86. The company’s 50-day simple moving average is $71.76 and its 200-day simple moving average is $73.51. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

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

BellRing Brands announced that its board has initiated a stock repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are usually 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.