BellRing Brands, Inc. (NYSE:BRBR) Position Raised by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 226,371 shares of the company’s stock after acquiring an additional 7,782 shares during the period. Wells Fargo & Company MN’s holdings in BellRing Brands were worth $17,055,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. SeaBridge Investment Advisors LLC raised its stake in BellRing Brands by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after acquiring an additional 142 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after purchasing an additional 153 shares during the period. Dorsey Wright & Associates raised its stake in shares of BellRing Brands by 0.3% during the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock valued at $3,799,000 after purchasing an additional 163 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after purchasing an additional 185 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity

In related news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. The trade was a 1.80 % 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 in the last 90 days. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRBR. Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen upped their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup boosted their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 target price for the company. Three investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Stock Performance

NYSE BRBR opened at $75.42 on Monday. The firm’s 50 day moving average price is $72.69 and its two-hundred day moving average price is $72.24. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating 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, research analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a share 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 buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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.