Wasatch Advisors LP Has $444.72 Million Stake in BellRing Brands, Inc. (NYSE:BRBR)

Wasatch Advisors LP trimmed its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,902,796 shares of the company’s stock after selling 798,503 shares during the quarter. BellRing Brands comprises 2.2% of Wasatch Advisors LP’s portfolio, making the stock its 8th largest position. Wasatch Advisors LP owned approximately 4.58% of BellRing Brands worth $444,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its position in BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after purchasing an additional 234 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of BellRing Brands during the fourth quarter worth approximately $52,000. Aster Capital Management DIFC Ltd grew its holdings in BellRing Brands by 747.7% in the 4th 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 increased its position in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 591 shares during the period. Finally, Fifth Third Bancorp raised its stake in BellRing Brands by 18.2% during 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 in the last quarter. Institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of BellRing Brands stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the transaction, the director now owns 1,166,691 shares of the company’s stock, valued at $87,851,832.30. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Stock Up 0.4 %

Shares of BellRing Brands stock opened at $75.52 on Wednesday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm has a market capitalization of $9.69 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The stock’s fifty day moving average is $72.63 and its 200-day moving average is $72.36.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) 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%. Analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho increased their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price for the company. 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. Citigroup increased their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.