Freestone Grove Partners LP Invests $5.75 Million in BellRing Brands, Inc. (NYSE:BRBR)

Freestone Grove Partners LP purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 76,266 shares of the company’s stock, valued at approximately $5,746,000.

Other large investors have also recently bought and sold shares of the company. Voleon Capital Management LP purchased a new stake in shares of BellRing Brands in the fourth quarter valued at about $4,313,000. AQR Capital Management LLC raised its stake in BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after acquiring an additional 1,685,525 shares during the last quarter. Northern Trust Corp lifted its position in BellRing Brands by 27.4% during the 4th quarter. Northern Trust Corp now owns 1,115,457 shares of the company’s stock worth $84,039,000 after acquiring an additional 239,961 shares during the period. Quarry LP grew its stake in shares of BellRing Brands by 267.2% in the 4th quarter. Quarry LP now owns 2,236 shares of the company’s stock valued at $168,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of BellRing Brands in the fourth quarter valued at approximately $413,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of several recent research reports. TD Cowen boosted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Mizuho raised their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Stephens reiterated an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. UBS Group initiated coverage on BellRing Brands in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $81.00 price target for the company. Finally, Morgan Stanley assumed coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $73.06, for a total value of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares of the company’s stock, valued at approximately $59,776,230.80. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,828 shares of company stock valued at $16,917,365. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Up 2.4 %

NYSE BRBR opened at $78.85 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The business has a fifty day moving average of $72.59 and a 200-day moving average of $73.46. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last released its 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 net margin of 13.32% and a negative return on equity of 130.14%. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a share 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.