BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 562,356 shares of the company’s stock after selling 12,200 shares during the quarter. Gabelli Funds LLC’s holdings in BellRing Brands were worth $42,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jump Financial LLC raised its stake in shares of BellRing Brands by 210.2% in the 4th quarter. Jump Financial LLC now owns 59,401 shares of the company’s stock valued at $4,475,000 after acquiring an additional 40,254 shares during the period. Hanlon Investment Management Inc. raised its position in BellRing Brands by 9.5% in the fourth quarter. Hanlon Investment Management Inc. now owns 6,095 shares of the company’s stock valued at $459,000 after purchasing an additional 527 shares during the period. Mariner LLC boosted its position in shares of BellRing Brands by 15.0% during the fourth quarter. Mariner LLC now owns 12,589 shares of the company’s stock worth $948,000 after buying an additional 1,643 shares during the period. Barclays PLC boosted its position in shares of BellRing Brands by 23.0% during the fourth quarter. Barclays PLC now owns 159,170 shares of the company’s stock worth $11,992,000 after buying an additional 29,802 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of BellRing Brands by 8.3% in the fourth quarter. Sterling Capital Management LLC now owns 35,758 shares of the company’s stock valued at $2,694,000 after buying an additional 2,754 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.7 %

NYSE BRBR opened at $75.08 on Tuesday. The business’s 50-day moving average price is $72.67 and its 200 day moving average price is $72.33. The firm has a market cap of $9.63 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.24 and a beta of 0.78. 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 data on Monday, February 3rd. The company reported $0.58 earnings per share 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%. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has approved a stock repurchase 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock valued at $16,917,365 over the last quarter. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BRBR shares. Barclays lifted their target price on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. TD Cowen increased their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Stephens reissued an “equal weight” rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Morgan Stanley started coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective on the stock. Finally, Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note 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 company. According to MarketBeat.com, BellRing Brands presently 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.