Meiji Yasuda Asset Management Co Ltd. Makes New $240,000 Investment in BellRing Brands, Inc. (NYSE:BRBR)

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,180 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds have also recently modified their holdings of the business. Citigroup Inc. lifted its stake in shares of BellRing Brands by 26.6% during the 3rd quarter. Citigroup Inc. now owns 80,263 shares of the company’s stock worth $4,874,000 after purchasing an additional 16,887 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in BellRing Brands by 125.0% in the third quarter. Daiwa Securities Group Inc. now owns 8,100 shares of the company’s stock worth $492,000 after purchasing an additional 4,500 shares in the last quarter. Quantbot Technologies LP bought a new position in BellRing Brands in the third quarter worth about $1,947,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of BellRing Brands by 121.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 22,463 shares of the company’s stock valued at $1,364,000 after buying an additional 12,311 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of BellRing Brands in the 3rd quarter valued at about $584,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley began coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Citigroup raised their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays boosted their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $75.00 price target 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Trading Up 0.2 %

Shares of NYSE:BRBR opened at $74.16 on Friday. 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 $9.51 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company’s 50 day moving average is $73.58 and its 200 day moving average is $71.01.

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

BellRing Brands announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the company’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 sale, the director now owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

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.