Intech Investment Management LLC Purchases 123,218 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Intech Investment Management LLC grew its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 193.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,972 shares of the company’s stock after purchasing an additional 123,218 shares during the quarter. Intech Investment Management LLC’s holdings in BellRing Brands were worth $14,086,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BRBR. Braun Stacey Associates Inc. bought a new stake in shares of BellRing Brands in the 3rd quarter valued at $18,680,000. Charles Schwab Investment Management Inc. increased its stake in shares of BellRing Brands by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after acquiring an additional 333,287 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock valued at $1,264,000 after acquiring an additional 10,117 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of BellRing Brands in the 3rd quarter valued at $672,000. Finally, Empowered Funds LLC increased its stake in shares of BellRing Brands by 151.4% in the 3rd quarter. Empowered Funds LLC now owns 69,844 shares of the company’s stock valued at $4,241,000 after acquiring an additional 42,059 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BRBR. Evercore ISI lifted their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Mizuho boosted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, TD Cowen boosted their price target 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now directly owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is owned by insiders.

BellRing Brands Price Performance

BRBR opened at $69.25 on Tuesday. The firm’s fifty day moving average price is $73.63 and its two-hundred day moving average price is $70.22. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping 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, equities analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

BellRing Brands Company 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.