Franklin Resources Inc. Has $344.89 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Franklin Resources Inc. boosted its stake in BellRing Brands, Inc. (NYSE:BRBR) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,577,708 shares of the company’s stock after purchasing an additional 96,991 shares during the quarter. Franklin Resources Inc. owned about 3.55% of BellRing Brands worth $344,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRBR. Vanguard Group Inc. boosted its position in shares of BellRing Brands by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after purchasing an additional 135,105 shares in the last quarter. State Street Corp raised its stake in BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after buying an additional 50,339 shares during the period. Wellington Management Group LLP boosted its holdings in BellRing Brands by 32.6% in the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after acquiring an additional 898,885 shares in the last quarter. Point72 Asset Management L.P. grew its stake in BellRing Brands by 21.5% in the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after acquiring an additional 457,796 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of BellRing Brands by 0.4% during the third quarter. Janus Henderson Group PLC now owns 1,775,559 shares of the company’s stock valued at $107,812,000 after acquiring an additional 6,951 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 79,068 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $77.04, for a total value of $6,091,398.72. Following the transaction, the director now owns 982,706 shares in the company, valued at approximately $75,707,670.24. This represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 218,636 shares of company stock worth $16,677,550. Insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 0.3 %

Shares of BRBR opened at $74.39 on Tuesday. The stock has a 50 day moving average of $73.62 and a 200 day moving average of $71.30. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities research analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BRBR shares. Barclays increased their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Stephens reaffirmed an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. TD Cowen upped their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Citigroup lifted their price target on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.