ExodusPoint Capital Management LP Sells 25,006 Shares of BellRing Brands, Inc. (NYSE:BRBR)

ExodusPoint Capital Management LP reduced its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,380 shares of the company’s stock after selling 25,006 shares during the quarter. ExodusPoint Capital Management LP’s holdings in BellRing Brands were worth $4,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BRBR. Vanguard Group Inc. grew 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 valued at $1,012,419,000 after acquiring an additional 135,105 shares during the period. Franklin Resources Inc. grew its holdings in BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock valued at $344,885,000 after purchasing an additional 96,991 shares during the period. State Street Corp increased its position in BellRing Brands by 1.3% in the third 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 last quarter. Wellington Management Group LLP increased its position 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 buying an additional 898,885 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of BellRing Brands in the fourth quarter valued at $114,185,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRBR. Citigroup increased their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen increased their target price 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. Barclays boosted their price target 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. Mizuho raised their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Stephens reissued an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $79.13.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were 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 owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert V. Vitale sold 28,453 shares of BellRing Brands 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 owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock worth $16,917,365 over the last 90 days. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Trading Down 5.4 %

Shares of BRBR opened at $69.83 on Monday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company has a market cap of $8.96 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The stock has a 50-day moving average price of $73.44 and a 200-day moving average price of $71.72.

BellRing Brands (NYSE:BRBR) last released 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 net margin of 13.32% and a negative return on equity of 130.14%. As a group, analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

BellRing Brands Company 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.