BellRing Brands (NYSE:BRBR) Stock Price Down 5.6% – Here’s What Happened

BellRing Brands Inc. (NYSE:BRBR)’s stock price traded down 5.6% during trading on Monday . The stock traded as low as $24.72 and last traded at $24.6420. 837,004 shares traded hands during trading, a decline of 44% from the average session volume of 1,484,242 shares. The stock had previously closed at $26.09.

Analyst Ratings Changes

Several research firms have recently issued reports on BRBR. Bank of America boosted their price objective on shares of BellRing Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of BellRing Brands in a research report on Monday, December 29th. Barclays lowered their price target on BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. UBS Group reiterated a “neutral” rating and issued a $34.00 price objective on shares of BellRing Brands in a research report on Friday, November 28th. Finally, Cowen lowered BellRing Brands from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $44.00.

BellRing Brands Stock Down 1.8%

The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 3.14 and a beta of 0.65. The business has a fifty day simple moving average of $29.21 and a two-hundred day simple moving average of $38.55.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, equities analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of BellRing Brands stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the transaction, the insider directly owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. This trade represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of BellRing Brands

Several large investors have recently made changes to their positions in BRBR. Wasatch Advisors LP grew its holdings in BellRing Brands by 30.5% during the 3rd quarter. Wasatch Advisors LP now owns 6,750,018 shares of the company’s stock worth $245,363,000 after acquiring an additional 1,575,812 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of BellRing Brands during the third quarter worth approximately $172,312,000. Holocene Advisors LP grew its stake in shares of BellRing Brands by 50.7% during the second quarter. Holocene Advisors LP now owns 3,928,395 shares of the company’s stock valued at $227,572,000 after purchasing an additional 1,320,849 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of BellRing Brands by 253.9% in the third quarter. AQR Capital Management LLC now owns 3,748,812 shares of the company’s stock valued at $136,269,000 after purchasing an additional 2,689,664 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of BellRing Brands by 0.5% in the third quarter. Wellington Management Group LLP now owns 3,691,528 shares of the company’s stock valued at $134,187,000 after purchasing an additional 19,471 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc is a consumer packaged goods company specializing in high?protein, better?for?you nutrition products. Formed in March 2020 as a spin?off from Post Holdings, the company focuses on delivering convenient protein solutions to health?conscious consumers through a portfolio of well?known and emerging brands.

The company’s product offerings include ready?to?drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.