Stevens Capital Management LP Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Stevens Capital Management LP purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, Holdings Channel reports. The fund purchased 2,740 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wasatch Advisors LP boosted its position in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after buying an additional 494,669 shares during the period. Franklin Resources Inc. raised its stake in shares of BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after acquiring an additional 380,216 shares during the last quarter. State Street Corp lifted its holdings in shares of BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares during the period. Wellington Management Group LLP grew its stake in shares of BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after purchasing an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in BellRing Brands by 21.5% in the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after purchasing an additional 457,796 shares during the period. 94.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley assumed coverage on BellRing Brands in a report on Monday. They set an “overweight” rating and a $84.00 target price on the stock. TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Mizuho increased 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. Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, Barclays upped their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Price Performance

BRBR stock opened at $73.59 on Tuesday. The company’s 50-day moving average is $73.49 and its 200-day moving average is $70.73. The stock has a market capitalization of $9.44 billion, a PE ratio of 34.55, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

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

BellRing Brands declared that its board has authorized a share buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is owned by company insiders.

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.