Ethic Inc. Acquires Shares of 11,554 BellRing Brands, Inc. (NYSE:BRBR)

Ethic Inc. bought a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, Holdings Channel.com reports. The fund bought 11,554 shares of the company’s stock, valued at approximately $870,000.

Other institutional investors also recently modified their holdings of the company. SeaBridge Investment Advisors LLC increased its stake in BellRing Brands by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp increased its position in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after acquiring an additional 153 shares in the last quarter. Dorsey Wright & Associates raised its holdings in shares of BellRing Brands by 0.3% in the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock worth $3,799,000 after acquiring an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in shares of BellRing Brands by 3.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after acquiring an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after acquiring an additional 188 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $63.51 on Thursday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm’s 50-day simple moving average is $71.65 and its two-hundred day simple moving average is $73.44.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $577.56 million. During the same quarter in the previous year, the firm posted $0.45 EPS. BellRing Brands’s revenue was up 18.9% on a year-over-year basis. Analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has approved a share repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction dated 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 in the company, valued at $4,345,218.68. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the transaction, the director now directly owns 938,457 shares of the company’s stock, valued at $72,608,418.09. The trade was a 4.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,275 shares of company stock worth $14,345,014 over the last quarter. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Stephens reiterated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays set a $75.00 price target on BellRing Brands and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Evercore ISI cut their price objective on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial lowered their target price on shares of BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.