Janus Henderson Group PLC Sells 229,090 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Janus Henderson Group PLC lowered its position in BellRing Brands, Inc. (NYSE:BRBR) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,957,680 shares of the company’s stock after selling 229,090 shares during the quarter. Janus Henderson Group PLC’s holdings in BellRing Brands were worth $115,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in BellRing Brands during the first quarter worth approximately $32,000. Parallel Advisors LLC lifted its stake in shares of BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands in the 1st quarter valued at about $37,000. Global Wealth Management Investment Advisory Inc. bought a new position in BellRing Brands in the 4th quarter valued at about $44,000. Finally, Spire Wealth Management raised its holdings in BellRing Brands by 40.0% in the 4th quarter. Spire Wealth Management now owns 1,050 shares of the company’s stock valued at $56,000 after acquiring an additional 300 shares during the period. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stephens reiterated an “equal weight” rating and issued a $53.00 price objective on shares of BellRing Brands in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of BellRing Brands from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Mizuho upped their target price on BellRing Brands from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, TD Cowen lifted their price target on BellRing Brands from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three equities 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, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $62.29.

BellRing Brands Price Performance

NYSE BRBR traded down $0.13 on Wednesday, reaching $50.92. The company had a trading volume of 183,146 shares, compared to its average volume of 1,350,719. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 1.49 and a beta of 0.84. BellRing Brands, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $62.76. The business has a 50 day moving average of $55.96 and a two-hundred day moving average of $56.85.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a net margin of 10.39% and a negative return on equity of 70.95%. The business had revenue of $494.60 million during the quarter, compared to the consensus estimate of $467.22 million. During the same quarter last year, the firm earned $0.24 earnings per share. BellRing Brands’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, research analysts predict that BellRing Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total transaction of $902,250.00. Following the transaction, the chairman now directly owns 215,054 shares in the company, valued at approximately $12,935,498.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

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.