Envestnet Portfolio Solutions Inc. Raises Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,869 shares of the company’s stock after purchasing an additional 237 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in BellRing Brands were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BRBR. Natixis Advisors LLC lifted its holdings in shares of BellRing Brands by 18.7% in the 4th quarter. Natixis Advisors LLC now owns 120,466 shares of the company’s stock valued at $9,076,000 after buying an additional 18,991 shares during the period. Poinciana Advisors Group LLC purchased a new position in BellRing Brands during the fourth quarter valued at approximately $272,000. Picton Mahoney Asset Management lifted its holdings in BellRing Brands by 4.5% in the fourth quarter. Picton Mahoney Asset Management now owns 142,704 shares of the company’s stock valued at $10,752,000 after acquiring an additional 6,139 shares during the period. Associated Banc Corp purchased a new stake in BellRing Brands in the 4th quarter worth approximately $214,000. Finally, EverSource Wealth Advisors LLC boosted 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 worth $69,000 after purchasing an additional 591 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $73.97 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock’s fifty day moving average is $73.54 and its two-hundred day moving average is $70.89. The firm has a market capitalization of $9.49 billion, a P/E ratio of 34.73, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, equities analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has approved a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several recent research reports. TD Cowen lifted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Mizuho upped their price objective 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. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday. They set an “overweight” rating and a $84.00 target price on the stock. Citigroup lifted their price target 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, Barclays increased their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Insider Activity

In other news, 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 transaction, the director now owns 1,110,004 shares in the company, valued at $85,370,407.64. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 218,636 shares of company stock worth $16,677,550 over the last ninety days. Corporate insiders own 1.07% of the company’s stock.

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.