BellRing Brands, Inc. (NYSE:BRBR) Sees Large Increase in Short Interest

BellRing Brands, Inc. (NYSE:BRBR) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 5,680,000 shares, an increase of 8.2% from the May 15th total of 5,250,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 5.4 days.

Insider Buying and Selling at BellRing Brands

In related news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $60.15, for a total value of $902,250.00. Following the completion of the transaction, the chairman now directly owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Trading of BellRing Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thornburg Investment Management Inc. raised its holdings in BellRing Brands by 51.1% in the 4th quarter. Thornburg Investment Management Inc. now owns 154,240 shares of the company’s stock valued at $8,550,000 after buying an additional 52,181 shares during the period. Franklin Resources Inc. raised its holdings in BellRing Brands by 60.3% in the 4th quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock valued at $203,239,000 after buying an additional 1,379,138 shares during the period. Charles Schwab Investment Management Inc. grew its position in BellRing Brands by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,171,230 shares of the company’s stock valued at $64,921,000 after acquiring an additional 33,613 shares in the last quarter. International Assets Investment Management LLC acquired a new position in BellRing Brands in the 4th quarter valued at about $5,076,000. Finally, Gabelli Funds LLC grew its position in BellRing Brands by 7.1% in the 4th quarter. Gabelli Funds LLC now owns 450,306 shares of the company’s stock valued at $24,960,000 after acquiring an additional 30,000 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Up 2.0 %

NYSE BRBR opened at $55.68 on Wednesday. BellRing Brands has a 52 week low of $34.58 and a 52 week high of $62.76. The business’s fifty day simple moving average is $57.22 and its 200-day simple moving average is $56.83. The firm has a market cap of $7.26 billion, a PE ratio of 38.67, a P/E/G ratio of 1.55 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The business had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. Research analysts expect that BellRing Brands will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BRBR shares. TD Cowen raised their price objective on shares of BellRing Brands from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of BellRing Brands in a research note on Thursday, May 23rd. They set a “buy” rating and a $67.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of BellRing Brands from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Mizuho raised their price objective on shares of BellRing Brands from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of BellRing Brands in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $62.23.

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.