Bryce Point Capital LLC Makes New $608,000 Investment in BellRing Brands, Inc. (NYSE:BRBR)

Bryce Point Capital LLC purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, HoldingsChannel reports. The firm purchased 8,072 shares of the company’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRBR. Pallas Capital Advisors LLC boosted its holdings in BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after buying an additional 10,117 shares during the period. State Street Corp lifted its position in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after acquiring an additional 50,339 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of BellRing Brands in the third quarter worth about $439,000. Encompass More Asset Management purchased a new stake in shares of BellRing Brands during the fourth quarter worth about $549,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in BellRing Brands by 4.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company’s stock valued at $6,223,000 after purchasing an additional 3,865 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BRBR shares. Citigroup upped their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Mizuho lifted their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Price Performance

NYSE:BRBR opened at $76.94 on Thursday. The firm has a market cap of $9.87 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company has a 50-day moving average of $73.62 and a 200 day moving average of $71.46. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the completion of the transaction, the director now directly owns 938,457 shares of the company’s stock, valued at $72,608,418.09. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred 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 completion of the sale, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock valued at $16,917,365 over the last 90 days. Insiders own 1.07% of the company’s stock.

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.