BellRing Brands, Inc. (NYSE:BRBR) Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 522,151 shares of the company’s stock after selling 30,793 shares during the period. JPMorgan Chase & Co.’s holdings in BellRing Brands were worth $39,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BRBR. HighTower Advisors LLC lifted its stake in BellRing Brands by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 50,357 shares of the company’s stock worth $3,061,000 after acquiring an additional 2,085 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of BellRing Brands by 44.5% in the third quarter. Quadrature Capital Ltd now owns 9,772 shares of the company’s stock worth $594,000 after purchasing an additional 3,009 shares in the last quarter. State Street Corp boosted its holdings in shares of BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares during the period. Wellington Management Group LLP grew its position in BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after purchasing an additional 281,667 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in BellRing Brands in the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Down 5.4 %

NYSE BRBR opened at $69.83 on Monday. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The company has a fifty day simple moving average of $73.44 and a 200 day simple moving average of $71.72. The company has a market cap of $8.96 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last released 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 forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has initiated 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert V. Vitale sold 5,100 shares of the company’s stock in a transaction 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 owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock worth $16,917,365 in the last 90 days. 1.07% of the stock is owned by company insiders.

Analyst Ratings Changes

BRBR has been the subject of a number of research reports. Barclays lifted their target price 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. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price on the stock. Citigroup upped 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. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, TD Cowen increased their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $79.13.

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.