California Public Employees Retirement System Cuts Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

California Public Employees Retirement System lessened its stake in BellRing Brands, Inc. (NYSE:BRBR) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,218 shares of the company’s stock after selling 12,622 shares during the quarter. California Public Employees Retirement System’s holdings in BellRing Brands were worth $16,742,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its position in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after purchasing an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the fourth quarter worth $52,000. EverSource Wealth Advisors LLC raised its stake in shares of BellRing Brands by 180.7% in 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 lifted its holdings in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after acquiring an additional 153 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in BellRing Brands by 160.5% during 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. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen boosted 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. Citigroup boosted their price target 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 increased their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley began coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 target price on the stock. Finally, Stephens reaffirmed an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This represents a 2.50 % 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 completion of the sale, the insider now directly owns 57,836 shares in the company, 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. In the last three months, insiders have sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by insiders.

BellRing Brands Stock Performance

NYSE:BRBR opened at $69.83 on Friday. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The stock has a 50-day simple moving average of $73.44 and a 200 day simple moving average of $71.55.

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

BellRing Brands announced that its board has authorized a share buyback program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs 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.