BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,346 shares of the company’s stock after selling 53,874 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.09% of BellRing Brands worth $8,992,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP purchased a new stake in BellRing Brands in the 3rd quarter valued at $69,998,000. Assenagon Asset Management S.A. increased its stake in BellRing Brands by 200.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock valued at $74,781,000 after purchasing an additional 661,774 shares during the period. Wasatch Advisors LP raised its holdings in shares of BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after buying an additional 494,669 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after buying an additional 457,796 shares during the period. Finally, Franklin Resources Inc. boosted 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 worth $285,646,000 after buying an additional 380,216 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares in the company, valued at $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 218,636 shares of company stock valued at $16,677,550 in the last 90 days. 1.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on BRBR. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday. They set an “overweight” rating and a $84.00 price objective for the company. Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Mizuho lifted their price objective 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. TD Cowen upped their price objective 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 lifted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and a consensus target price of $79.13.

BellRing Brands Trading Up 0.6 %

Shares of BellRing Brands stock opened at $73.94 on Thursday. The company has a 50-day moving average of $73.53 and a two-hundred day moving average of $70.87. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The stock has a market cap of $9.49 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85.

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, 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, sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire 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.

About BellRing Brands

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.