Premier Fund Managers Ltd Increases Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Premier Fund Managers Ltd grew its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,954 shares of the company’s stock after purchasing an additional 1,209 shares during the quarter. Premier Fund Managers Ltd’s holdings in BellRing Brands were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its position in BellRing Brands by 9.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,246 shares of the company’s stock worth $1,450,000 after acquiring an additional 1,657 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of BellRing Brands in the 4th quarter worth $5,757,000. Norges Bank bought a new position in BellRing Brands in the 4th quarter worth $114,185,000. Montanaro Asset Management Ltd bought a new position in BellRing Brands in the 4th quarter worth $7,534,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in BellRing Brands during the fourth quarter valued at about $240,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

NYSE BRBR opened at $73.97 on Friday. The stock has a 50 day moving average price of $73.54 and a 200-day moving average price of $70.89. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market capitalization of $9.49 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. As a group, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the transaction, the director now owns 818,180 shares in the company, valued at $59,776,230.80. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 218,636 shares of company stock worth $16,677,550. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday. They set an “overweight” rating and a $84.00 price target on the stock. Mizuho increased their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Stephens restated an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.13.

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.