BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in BellRing Brands, Inc. (NYSE:BRBR) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 920,728 shares of the company’s stock after selling 1,043 shares during the period. Price T Rowe Associates Inc. MD owned about 0.71% of BellRing Brands worth $69,368,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. UMB Bank n.a. raised its position in shares of BellRing Brands by 69.4% during 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 4th quarter worth about $52,000. Aster Capital Management DIFC Ltd raised its position in shares of BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after purchasing an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 last quarter. Finally, Fifth Third Bancorp lifted its stake in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Down 0.1 %

BRBR stock opened at $75.08 on Tuesday. The company has a market capitalization of $9.63 billion, a PE ratio of 35.25, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The business’s fifty day moving average price is $72.24 and its 200 day moving average price is $73.23.

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, beating 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%. Research analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 79,068 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $77.04, for a total transaction of $6,091,398.72. Following the sale, the director now owns 982,706 shares in the company, valued at $75,707,670.24. This represents a 7.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley started coverage on BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target for the company. Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen boosted 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. Barclays boosted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Stephens reissued an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

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.