Renaissance Technologies LLC Boosts Position in BellRing Brands, Inc. (NYSE:BRBR)

Renaissance Technologies LLC increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,746,351 shares of the company's stock after purchasing an additional 198,093 shares during the period. Renaissance Technologies LLC owned approximately 1.36% of BellRing Brands worth $131,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. lifted its stake in BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after buying an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands in the 4th quarter valued at $52,000. Aster Capital Management DIFC Ltd increased its stake in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after buying an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after acquiring an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp boosted 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 last quarter. 94.97% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRBR. Barclays upped their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. TD Cowen raised their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price on the stock. Stephens restated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, Mizuho boosted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Insider Activity

In other BellRing Brands news, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the completion of the transaction, the director now owns 938,457 shares in the company, valued at $72,608,418.09. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock valued at $16,917,365 in the last three months. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded down $0.56 during trading hours on Monday, reaching $75.03. The company's stock had a trading volume of 280,407 shares, compared to its average volume of 1,204,119. The company has a market capitalization of $9.63 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.24 and a beta of 0.78. The stock's fifty day simple moving average is $72.69 and its two-hundred day simple moving average is $72.24. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

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

BellRing Brands declared that its board has approved a share 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.