Colonial Trust Co SC Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Colonial Trust Co SC bought a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 580 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors have also recently bought and sold shares of the business. Crestline Management LP lifted its position in shares of BellRing Brands by 38.1% in the fourth quarter. Crestline Management LP now owns 14,223 shares of the company’s stock valued at $1,072,000 after buying an additional 3,923 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in BellRing Brands by 2.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 336,854 shares of the company’s stock valued at $25,379,000 after purchasing an additional 7,460 shares during the last quarter. Cetera Investment Advisers boosted its position in BellRing Brands by 15.5% during the fourth quarter. Cetera Investment Advisers now owns 20,418 shares of the company’s stock worth $1,538,000 after purchasing an additional 2,736 shares during the period. Bridgefront Capital LLC acquired a new position in shares of BellRing Brands in the fourth quarter valued at $230,000. Finally, Captrust Financial Advisors lifted its stake in shares of BellRing Brands by 35.2% during the 4th quarter. Captrust Financial Advisors now owns 236,837 shares of the company’s stock worth $17,843,000 after buying an additional 61,634 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity

In related news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock worth $16,917,365. Corporate insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRBR. Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. UBS Group reduced their price target on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial lowered their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday. Morgan Stanley initiated 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. Finally, Citigroup lowered their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Four 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $61.18 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock’s fifty day moving average price is $72.00 and its two-hundred day moving average price is $73.46. The company has a market cap of $7.85 billion, a PE ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period last year, the firm posted $0.45 earnings per share. BellRing Brands’s revenue was up 18.9% compared to the same quarter last year. On average, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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

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.