BellRing Brands, Inc. (NYSE:BRBR) Stock Holdings Reduced by Wasatch Advisors LP

Wasatch Advisors LP cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,902,796 shares of the company’s stock after selling 798,503 shares during the period. BellRing Brands accounts for about 2.2% of Wasatch Advisors LP’s investment portfolio, making the stock its 8th largest position. Wasatch Advisors LP’s holdings in BellRing Brands were worth $444,717,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in BellRing Brands during the fourth quarter valued at approximately $114,185,000. Invesco Ltd. increased its stake in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after purchasing an additional 898,885 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of BellRing Brands by 200.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock valued at $74,781,000 after purchasing an additional 661,774 shares during the last quarter. Finally, Axiom Investors LLC DE boosted its holdings in BellRing Brands by 4,670.5% in the fourth quarter. Axiom Investors LLC DE now owns 434,113 shares of the company’s stock worth $32,706,000 after purchasing an additional 425,013 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BellRing Brands

In related news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the sale, the director now owns 1,166,691 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the 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 transaction, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This represents 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 in the last 90 days. 1.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BRBR shares. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 target price on the stock. Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Stephens reiterated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Mizuho lifted their price target 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. Finally, TD Cowen upped their price objective 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. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

BellRing Brands Stock Up 0.4 %

BRBR stock opened at $75.52 on Wednesday. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a market cap of $9.69 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The business’s 50-day simple moving average is $72.63 and its 200 day simple moving average is $72.36.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.