Russell Investments Group Ltd. Purchases 89,357 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Russell Investments Group Ltd. increased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 175.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,335 shares of the company's stock after purchasing an additional 89,357 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of BellRing Brands worth $10,573,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in shares of BellRing Brands by 4.3% during the third quarter. HighTower Advisors LLC now owns 50,357 shares of the company's stock worth $3,061,000 after acquiring an additional 2,085 shares in the last quarter. MML Investors Services LLC boosted its stake in BellRing Brands by 8.9% in the 3rd quarter. MML Investors Services LLC now owns 5,832 shares of the company's stock worth $354,000 after purchasing an additional 476 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in BellRing Brands by 1.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 77,816 shares of the company's stock worth $4,725,000 after purchasing an additional 1,380 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of BellRing Brands in the 3rd quarter valued at about $439,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of BellRing Brands in the third quarter valued at about $338,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of recent research reports. Stephens reissued an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Mizuho boosted their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Barclays raised their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Citigroup boosted their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, TD Cowen raised their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.13.

Remove Ads

Insider Activity at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on 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 approximately $4,345,218.68. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock valued at $16,917,365 over the last quarter. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Price Performance

NYSE BRBR traded up $0.31 on Tuesday, reaching $75.52. The stock had a trading volume of 750,747 shares, compared to its average volume of 1,207,677. The company has a market cap of $9.69 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The firm has a fifty day moving average of $72.67 and a two-hundred day moving average of $72.33. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-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 the consensus estimate 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 predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is 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.