KLP Kapitalforvaltning AS Buys Shares of 30,458 BellRing Brands, Inc. (NYSE:BRBR)

KLP Kapitalforvaltning AS purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,458 shares of the company's stock, valued at approximately $2,295,000.

A number of other hedge funds have also recently added to or reduced their stakes in BRBR. UMB Bank n.a. increased its position in shares of BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after purchasing an additional 234 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands during the fourth quarter worth $52,000. Truvestments Capital LLC acquired a new position in BellRing Brands during the third quarter worth $44,000. EverSource Wealth Advisors LLC grew its stake in shares of BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after buying an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 153 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Up 0.9 %

Shares of NYSE BRBR traded up $0.71 during trading on Tuesday, reaching $75.17. 1,094,891 shares of the stock were exchanged, compared to its average volume of 1,180,700. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The business's 50-day moving average price is $73.61 and its 200 day moving average price is $71.42. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85.

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BellRing Brands (NYSE:BRBR - Get Free Report) last posted 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%. As a group, sell-side analysts expect 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 plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stephens reiterated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Morgan Stanley began 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 for the company. Citigroup upped their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Barclays raised their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, TD Cowen raised their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, BellRing Brands currently has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Insider Activity

In other news, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction that occurred 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 sale, the director now owns 1,110,004 shares of the company's stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 218,636 shares of company stock worth $16,677,550 over the last 90 days. 1.07% of the stock is owned by company insiders.

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.