Summit Investment Advisors Inc. Lowers Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Summit Investment Advisors Inc. trimmed its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,887 shares of the company’s stock after selling 628 shares during the period. Summit Investment Advisors Inc.’s holdings in BellRing Brands were worth $1,950,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BRBR. UMB Bank n.a. raised its position in BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after acquiring an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the fourth quarter valued at about $52,000. Aster Capital Management DIFC Ltd boosted its holdings in BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after buying an additional 643 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after buying an additional 591 shares during the period. Finally, Fifth Third Bancorp increased its holdings in BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after buying an additional 153 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $75.52 on Wednesday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The business has a 50-day moving average of $72.63 and a 200-day moving average of $72.36.

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

BellRing Brands declared that its Board of Directors has approved a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding 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.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock valued at $16,917,365 in the last ninety days. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

BRBR has been the topic of a number of research analyst reports. Stephens reiterated an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen raised their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Mizuho boosted 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. Morgan Stanley began coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price for the company. Finally, Barclays boosted their price target on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.