BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000,462 shares of the company's stock after selling 9,336 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.78% of BellRing Brands worth $75,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Holocene Advisors LP purchased a new stake in shares of BellRing Brands in the third quarter worth about $69,998,000. Assenagon Asset Management S.A. grew its position in shares of BellRing Brands by 200.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock worth $74,781,000 after acquiring an additional 661,774 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of BellRing Brands in the third quarter valued at approximately $30,699,000. Wasatch Advisors LP raised its stake in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock valued at $406,903,000 after acquiring an additional 494,669 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company's stock valued at $157,202,000 after purchasing an additional 457,796 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the sale, the director now owns 1,110,004 shares in the company, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 218,636 shares of company stock worth $16,677,550 in the last quarter. 1.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on BRBR. Truist Financial increased their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, November 20th. Bank of America lifted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. 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 research note on Wednesday, January 8th. DA Davidson reissued a "neutral" rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Finally, Mizuho boosted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BellRing Brands presently has an average rating of "Moderate Buy" and an average price target of $77.87.

BellRing Brands Trading Up 1.1 %

Shares of BRBR stock traded up $0.74 during trading hours on Friday, hitting $69.15. 1,045,535 shares of the company's stock were exchanged, compared to its average volume of 1,116,425. The business's 50 day simple moving average is $74.67 and its 200-day simple moving average is $69.44. The company has a market capitalization of $8.87 billion, a PE ratio of 32.47, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data 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 net margin of 13.32% and a negative return on equity of 130.14%. Equities analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a stock buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase 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.

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.