Claret Asset Management Corp Invests $228,000 in BellRing Brands, Inc. (NYSE:BRBR)

Claret Asset Management Corp bought a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,025 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRBR. First Trust Advisors LP increased its holdings in shares of BellRing Brands by 27.4% during the 4th quarter. First Trust Advisors LP now owns 219,610 shares of the company’s stock worth $16,545,000 after buying an additional 47,199 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of BellRing Brands by 33.1% in the 4th quarter. Champlain Investment Partners LLC now owns 672,825 shares of the company’s stock valued at $50,691,000 after purchasing an additional 167,235 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of BellRing Brands by 1,734.2% during the 4th quarter. Marshall Wace LLP now owns 268,247 shares of the company’s stock worth $20,210,000 after purchasing an additional 253,622 shares during the period. EAM Global Investors LLC acquired a new stake in BellRing Brands during the 4th quarter worth approximately $4,813,000. Finally, EAM Investors LLC purchased a new position in BellRing Brands in the fourth quarter valued at approximately $5,284,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BRBR. Morgan Stanley initiated coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective for the company. Stephens reiterated an “equal weight” rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays increased their target price on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Citigroup upped their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, TD Cowen lifted their price objective 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 twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Insider Activity

In other news, 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 transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owns 1,166,691 shares in the company, valued at $87,851,832.30. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock worth $16,917,365 over the last 90 days. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Stock Up 1.7 %

Shares of NYSE:BRBR opened at $75.20 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The company has a market cap of $9.65 billion, a PE ratio of 35.30, a P/E/G ratio of 2.24 and a beta of 0.78. The company’s 50-day moving average price is $72.55 and its 200 day moving average price is $72.56.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data 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 negative return on equity of 130.14% and a net margin of 13.32%. 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 of Directors has initiated a stock repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.