Envestnet Asset Management Inc. Buys 45,136 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Envestnet Asset Management Inc. lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 21.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 258,302 shares of the company’s stock after acquiring an additional 45,136 shares during the period. Envestnet Asset Management Inc.’s holdings in BellRing Brands were worth $19,460,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after acquiring an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of BellRing Brands during the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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. Fifth Third Bancorp grew its position in BellRing Brands by 18.2% in the 4th 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. Finally, Blue Trust Inc. increased its stake in BellRing Brands by 160.5% during the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock valued at $79,000 after purchasing an additional 647 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Down 0.7 %

Shares of BRBR stock opened at $75.08 on Tuesday. The firm has a market cap of $9.63 billion, a P/E ratio of 35.25, a PEG ratio of 2.24 and a beta of 0.78. The company has a 50 day moving average of $72.67 and a 200-day moving average of $72.33. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated 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 purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock worth $16,917,365. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BRBR shares. Morgan Stanley initiated 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. 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. TD Cowen increased their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Barclays lifted their target price on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Mizuho increased 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. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target 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.