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

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

Analysts Set New Price Targets

BRBR has been the topic of several analyst reports. Evercore ISI lifted their price objective on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. Barclays lifted their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. TD Cowen lifted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.79.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $68.24 on Wednesday. The business’s fifty day moving average price is $73.54 and its two-hundred day moving average price is $70.30. The company has a market capitalization of $8.75 billion, a P/E ratio of 32.04, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating 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%. On average, research analysts expect that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a share buyback program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the sale, the director now directly owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 in the last three months. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of BellRing Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BRBR. Assetmark Inc. raised its stake in shares of BellRing Brands by 53.9% in the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the company’s stock worth $118,000 after buying an additional 682 shares in the last quarter. Atria Investments Inc grew its holdings in shares of BellRing Brands by 10.0% during the third quarter. Atria Investments Inc now owns 10,227 shares of the company’s stock valued at $621,000 after buying an additional 927 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of BellRing Brands by 5.2% during the third quarter. Crossmark Global Holdings Inc. now owns 8,746 shares of the company’s stock valued at $531,000 after buying an additional 429 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of BellRing Brands by 20.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,683 shares of the company’s stock valued at $284,000 after buying an additional 800 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of BellRing Brands by 14.1% during the third quarter. KBC Group NV now owns 3,583 shares of the company’s stock valued at $218,000 after buying an additional 443 shares in the last quarter. Institutional investors own 94.97% 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.