BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its stake in BellRing Brands, Inc. (NYSE:BRBR) by 195.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,084 shares of the company’s stock after acquiring an additional 44,396 shares during the period. Pinebridge Investments L.P. owned 0.05% of BellRing Brands worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BRBR. UMB Bank n.a. boosted its position in shares of BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after purchasing an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands during the fourth quarter worth approximately $52,000. Aster Capital Management DIFC Ltd increased its holdings in shares of BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after acquiring an additional 643 shares during the period. EverSource Wealth Advisors LLC raised its position in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 591 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 1.1 %

Shares of NYSE BRBR opened at $74.75 on Friday. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $72.34 and a 200 day moving average price of $72.91.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results 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 net margin of 13.32% and a negative return on equity of 130.14%. Equities research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a share buyback program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares in the company, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,828 shares of company stock valued at $16,917,365. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BRBR shares. Morgan Stanley assumed coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective on the stock. UBS Group began coverage on BellRing Brands in a research report on Wednesday. They issued a “neutral” rating and a $81.00 price target on the stock. 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. Citigroup lifted their target price on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.