Claret Asset Management Corp Buys Shares of 3,025 BellRing Brands, Inc. (NYSE:BRBR)

Claret Asset Management Corp bought a new position in BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,025 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds also recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in BellRing Brands by 8.9% in the third quarter. MML Investors Services LLC now owns 5,832 shares of the company’s stock worth $354,000 after purchasing an additional 476 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of BellRing Brands during the 3rd quarter worth about $439,000. Wilmington Savings Fund Society FSB acquired a new position in shares of BellRing Brands during the 3rd quarter valued at about $338,000. Franklin Resources Inc. raised its stake in shares of BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after acquiring an additional 380,216 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in BellRing Brands by 134.5% during the fourth quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $156,000 after purchasing an additional 1,184 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BRBR shares. Stephens reiterated an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective on the stock. Mizuho increased their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. TD Cowen upped their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup raised their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.13.

BellRing Brands Stock Performance

NYSE:BRBR opened at $75.20 on Friday. The stock’s fifty day moving average price is $72.55 and its two-hundred day moving average price is $72.56. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data 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 analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a stock buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.