BellRing Brands, Inc. (NYSE:BRBR) Receives $79.13 Consensus Target Price from Brokerages

BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $79.13.

Several research analysts have recently commented on BRBR shares. Barclays lifted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Citigroup raised their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th.

BellRing Brands Stock Performance

NYSE:BRBR traded up $1.41 during mid-day trading on Tuesday, reaching $75.42. The stock had a trading volume of 1,146,358 shares, compared to its average volume of 1,205,917. BellRing Brands has a one year low of $48.06 and a one year high of $80.67. The firm has a 50 day moving average price of $72.69 and a two-hundred day moving average price of $72.16. The stock has a market capitalization of $9.67 billion, a P/E ratio of 35.41, a P/E/G ratio of 2.24 and a beta of 0.78.

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BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (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 forecast that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has approved a stock buyback program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 79,068 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $77.04, for a total value of $6,091,398.72. Following the sale, the director now directly owns 982,706 shares of the company's stock, valued at $75,707,670.24. This represents a 7.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is currently owned by corporate insiders.

Institutional Trading of BellRing Brands

Several hedge funds and other institutional investors have recently made changes to their positions in BRBR. Independence Bank of Kentucky boosted its holdings in BellRing Brands by 147.8% in the first quarter. Independence Bank of Kentucky now owns 11,820 shares of the company's stock worth $880,000 after acquiring an additional 7,050 shares in the last quarter. Merit Financial Group LLC raised its position in shares of BellRing Brands by 17.7% in the 1st quarter. Merit Financial Group LLC now owns 11,023 shares of the company's stock worth $821,000 after purchasing an additional 1,654 shares during the last quarter. NBC Securities Inc. boosted its stake in BellRing Brands by 168,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,684 shares of the company's stock worth $125,000 after purchasing an additional 1,683 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in BellRing Brands by 9.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,088 shares of the company's stock valued at $379,000 after purchasing an additional 419 shares during the last quarter. Finally, Summit Global Investments increased its stake in BellRing Brands by 7.1% during the 1st quarter. Summit Global Investments now owns 24,351 shares of the company's stock valued at $1,813,000 after purchasing an additional 1,623 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

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.