BellRing Brands, Inc. (NYSE:BRBR) Insider Sells $239,814.96 in Stock

BellRing Brands, Inc. (NYSE:BRBR) insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BellRing Brands Price Performance

NYSE:BRBR opened at $69.83 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The business has a fifty day moving average price of $73.44 and a 200-day moving average price of $71.55. The firm 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 (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping 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%. On average, equities research analysts expect 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 authorized 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 reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after buying an additional 1,685,525 shares in the last quarter. Norges Bank purchased a new position in shares of BellRing Brands in the fourth quarter valued at about $114,185,000. Holocene Advisors LP bought a new position in shares of BellRing Brands in the third quarter worth about $69,998,000. Invesco Ltd. grew its position in shares of BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after purchasing an additional 1,121,691 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after purchasing an additional 898,885 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BRBR shares. Stephens restated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. TD Cowen upped their price target on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup lifted their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 target price on the stock. Finally, Mizuho lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $79.13.

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.