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

BellRing Brands, Inc. (NYSE:BRBR) saw a large increase in short interest during 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. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 2.3 days.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded up $1.77 on Monday, hitting $69.25. The company’s stock had a trading volume of 1,256,360 shares, compared to its average volume of 1,122,098. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The firm has a fifty day moving average price of $73.63 and a 200-day moving average price of $70.22. 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, 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, analysts forecast that BellRing Brands will post 2.23 EPS for the current year.

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

Insiders Place Their Bets

In related news, Director Robert V. Vitale sold 15,000 shares of the firm’s 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 transaction, the director now owns 818,180 shares in the company, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. Insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds have recently made changes to their positions in BRBR. UMB Bank n.a. raised its position in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after buying an additional 234 shares during the last quarter. Truvestments Capital LLC purchased a new stake in BellRing Brands during the 3rd quarter valued at about $44,000. Colonial Trust Co SC acquired a new stake in BellRing Brands in the 4th quarter valued at about $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of BellRing Brands during the 4th quarter worth approximately $52,000. Finally, Aster Capital Management DIFC Ltd grew its position in shares of BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after purchasing 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

Several research analysts have recently issued reports on the company. Barclays raised their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Mizuho increased their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Bank of America upped their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Citigroup raised their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.