Caitong International Asset Management Co. Ltd Makes New Investment in BellRing Brands Inc. $BRBR

Caitong International Asset Management Co. Ltd bought a new position in shares of BellRing Brands Inc. (NYSE:BRBR) during the second quarter, HoldingsChannel.com reports. The firm bought 1,416 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds also recently added to or reduced their stakes in BRBR. William Blair Investment Management LLC acquired a new stake in BellRing Brands during the 2nd quarter worth approximately $124,777,000. Axiom Investors LLC DE raised its holdings in shares of BellRing Brands by 418.1% in the 1st quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after purchasing an additional 1,814,811 shares in the last quarter. Junto Capital Management LP acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $97,725,000. Nuveen LLC acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $71,004,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $38,642,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BRBR shares. Morgan Stanley reduced their price objective on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Stephens upgraded shares of BellRing Brands from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $68.00 to $50.00 in a report on Wednesday, August 6th. Stifel Nicolaus reduced their price objective on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Evercore ISI cut their price target on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $61.56.

BellRing Brands Price Performance

Shares of NYSE:BRBR opened at $33.05 on Friday. The company’s fifty day moving average price is $36.93 and its 200 day moving average price is $52.75. BellRing Brands Inc. has a 12 month low of $32.00 and a 12 month high of $80.67. The firm has a market capitalization of $4.16 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.63 and a beta of 0.75.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.22 EPS for the quarter. The firm had revenue of $282.40 million for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. On average, sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has approved a share repurchase plan on Tuesday, September 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, insider Craig L. Rosenthal acquired 2,600 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the purchase, the insider owned 33,475 shares in the company, valued at $1,248,282.75. This trade represents a 8.42% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Conway acquired 2,700 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $36.41 per share, for a total transaction of $98,307.00. Following the completion of the purchase, the director owned 6,685 shares of the company’s stock, valued at $243,400.85. This trade represents a 67.75% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,616 shares of company stock worth $65,995,248. 1.07% of the stock is owned by company insiders.

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.