Arrowstreet Capital Limited Partnership Sells 26,439 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Arrowstreet Capital Limited Partnership reduced its position in BellRing Brands, Inc. (NYSE:BRBR) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 522,019 shares of the company’s stock after selling 26,439 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in BellRing Brands were worth $39,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after buying an additional 234 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC grew its position in shares of BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 591 shares during the period. Fifth Third Bancorp increased its stake in shares of BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in BellRing Brands by 160.5% in the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock worth $79,000 after purchasing an additional 647 shares during the period. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 2.4 %

Shares of BellRing Brands stock opened at $76.94 on Thursday. The firm has a market cap of $9.87 billion, a PE ratio of 36.12, a PEG ratio of 2.24 and a beta of 0.85. The stock has a 50 day moving average of $73.62 and a 200 day moving average of $71.46. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its earnings results 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, equities research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,166,691 shares of the company’s stock, valued at $87,851,832.30. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred 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 completion of the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,828 shares of company stock valued at $16,917,365. Insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BRBR shares. Citigroup boosted their price target on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on 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 raised their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen upped their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Barclays increased their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

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.