Private Advisor Group LLC Purchases Shares of 3,029 BellRing Brands, Inc. (NYSE:BRBR)

Private Advisor Group LLC bought a new position in BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, HoldingsChannel.com reports. The fund bought 3,029 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Holocene Advisors LP bought a new stake in BellRing Brands in the third quarter valued at approximately $69,998,000. Assenagon Asset Management S.A. raised its position in shares of BellRing Brands by 200.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock valued at $74,781,000 after purchasing an additional 661,774 shares during the period. Champlain Investment Partners LLC bought a new position in BellRing Brands during the third quarter worth about $30,699,000. Wasatch Advisors LP increased its position in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after acquiring an additional 494,669 shares during the period. Finally, Point72 Asset Management L.P. increased its position in BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after acquiring an additional 457,796 shares during the period. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Down 6.0 %

Shares of NYSE:BRBR opened at $68.24 on Friday. The firm has a market capitalization of $8.75 billion, a PE ratio of 32.04, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a 50-day moving average price of $74.67 and a two-hundred day moving average price of $69.44.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (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%. Analysts anticipate 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 initiated a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.30, for a total transaction of $384,030.00. Following the transaction, the director now directly owns 1,166,691 shares in the company, valued at $87,851,832.30. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 218,636 shares of company stock valued at $16,677,550 over the last three months. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BRBR. Truist Financial increased their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Citigroup raised their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays lifted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.87.

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.