Gabelli Funds LLC Trims Stake in BellRing Brands, Inc. (NYSE:BRBR)

Gabelli Funds LLC decreased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,356 shares of the company’s stock after selling 12,200 shares during the period. Gabelli Funds LLC owned about 0.44% of BellRing Brands worth $42,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. UMB Bank n.a. lifted 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 acquiring an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of BellRing Brands during the fourth quarter valued at approximately $52,000. Aster Capital Management DIFC Ltd lifted its holdings 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 worth $55,000 after buying an additional 643 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after acquiring an additional 153 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the completion of the sale, the director now directly owns 938,457 shares in the company, valued at approximately $72,608,418.09. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,828 shares of company stock valued at $16,917,365. Company insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR opened at $75.08 on Tuesday. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 2.24 and a beta of 0.78. The company has a 50-day moving average of $72.67 and a 200 day moving average of $72.33. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. On average, equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Mizuho raised their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Citigroup increased their target price on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Barclays boosted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Stephens reissued an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.13.

BellRing Brands 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.