BellRing Brands, Inc. (NYSE:BRBR) Stock Holdings Increased by Summit Global Investments

Summit Global Investments lifted its position in BellRing Brands, Inc. (NYSE:BRBR) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,351 shares of the company’s stock after acquiring an additional 1,623 shares during the period. Summit Global Investments’ holdings in BellRing Brands were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BRBR. GAMMA Investing LLC grew its position in BellRing Brands by 8,255.1% during the first quarter. GAMMA Investing LLC now owns 172,449 shares of the company’s stock valued at $12,841,000 after purchasing an additional 170,385 shares in the last quarter. Versant Capital Management Inc grew its position in BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock worth $33,000 after buying an additional 283 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BellRing Brands by 1,105.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,339 shares of the company’s stock worth $3,416,000 after buying an additional 41,578 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of BellRing Brands during the 4th quarter worth $12,879,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

BellRing Brands stock opened at $61.71 on Friday. The company’s 50 day simple moving average is $70.34 and its 200 day simple moving average is $73.08. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. As a group, analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a share buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRBR. Citigroup reduced their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. 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. DA Davidson upgraded shares of BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday. Mizuho decreased their price objective on shares of BellRing Brands from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

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.