BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 90.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,004 shares of the company's stock after buying an additional 45,551 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of BellRing Brands worth $7,233,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. SeaBridge Investment Advisors LLC lifted its position in BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after purchasing an additional 142 shares during the last quarter. Fifth Third Bancorp lifted its position in 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 last quarter. Chartwell Investment Partners LLC lifted its position in BellRing Brands by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company's stock valued at $1,393,000 after purchasing an additional 181 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its position in BellRing Brands by 3.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after purchasing an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

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Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 44,249 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the sale, the director now directly owns 938,457 shares in the company, valued at approximately $72,608,418.09. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stephens restated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. DA Davidson restated a "neutral" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, November 19th. Evercore ISI raised their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, Truist Financial raised their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $78.79.

BellRing Brands Price Performance

NYSE BRBR traded up $0.61 during trading on Friday, reaching $69.02. 1,972,344 shares of the company's stock traded hands, compared to its average volume of 1,118,859. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company's 50 day simple moving average is $74.53 and its two-hundred day simple moving average is $69.64. 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 posted its earnings results on Monday, February 3rd. The company reported $0.58 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%. Research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.