Point72 Hong Kong Ltd Sells 11,935 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Point72 Hong Kong Ltd lowered its position in BellRing Brands, Inc. (NYSE:BRBR) by 70.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,089 shares of the company’s stock after selling 11,935 shares during the quarter. Point72 Hong Kong Ltd’s holdings in BellRing Brands were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC boosted its stake in shares of BellRing Brands by 6.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,669 shares of the company’s stock valued at $352,000 after purchasing an additional 266 shares in the last quarter. Merit Financial Group LLC purchased a new stake in BellRing Brands during the fourth quarter valued at about $706,000. Somerset Trust Co bought a new position in shares of BellRing Brands during the fourth quarter valued at about $203,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of BellRing Brands during the fourth quarter valued at about $226,000. Finally, Oak Ridge Investments LLC increased its holdings in shares of BellRing Brands by 2.3% in the fourth quarter. Oak Ridge Investments LLC now owns 129,795 shares of the company’s stock worth $9,779,000 after buying an additional 2,959 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Price Performance

BRBR opened at $65.95 on Friday. The firm has a market cap of $8.46 billion, a PE ratio of 30.96, a P/E/G ratio of 2.24 and a beta of 0.86. The stock has a 50-day moving average price of $71.60 and a 200-day moving average price of $73.44. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. BellRing Brands’s revenue was up 18.9% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. As a group, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has initiated a stock buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

BRBR has been the subject of several analyst reports. Evercore ISI dropped their target price on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Citigroup reduced their price target on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Mizuho increased their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays set a $75.00 price objective on BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, UBS Group decreased their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Activity at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the sale, the director now directly owns 818,180 shares of the company’s stock, 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. Insiders sold 109,207 shares of company stock valued at $8,253,616 over the last 90 days. Corporate insiders own 1.07% of the company’s stock.

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.