Premier Fund Managers Ltd Acquires 1,209 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Premier Fund Managers Ltd grew its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,954 shares of the company’s stock after purchasing an additional 1,209 shares during the period. Premier Fund Managers Ltd’s holdings in BellRing Brands were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in 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 worth $76,949,000 after buying an additional 333,287 shares during the period. Citigroup Inc. increased its position in shares of BellRing Brands by 26.6% during the third quarter. Citigroup Inc. now owns 80,263 shares of the company’s stock worth $4,874,000 after acquiring an additional 16,887 shares during the period. Daiwa Securities Group Inc. increased its position in shares of BellRing Brands by 125.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,100 shares of the company’s stock worth $492,000 after acquiring an additional 4,500 shares during the period. Truvestments Capital LLC bought a new stake in shares of BellRing Brands during the third quarter valued at approximately $44,000. Finally, Quantbot Technologies LP purchased a new stake in shares of BellRing Brands in the third quarter valued at approximately $1,947,000. 94.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction that occurred on 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 owns 818,180 shares in the company, valued at $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 218,636 shares of company stock worth $16,677,550 in the last 90 days. Insiders own 1.07% of the company’s stock.

BellRing Brands Stock Up 0.2 %

BRBR opened at $73.97 on Friday. The firm’s 50-day moving average price is $73.54 and its 200-day moving average price is $70.89. The company has a market cap of $9.49 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) 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%. On average, research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stephens reiterated an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Mizuho raised their target price 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. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday. They set an “overweight” rating and a $84.00 price objective on the stock. Barclays boosted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Citigroup increased their target price on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.13.

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.