Picton Mahoney Asset Management Boosts Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Picton Mahoney Asset Management lifted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,704 shares of the company's stock after acquiring an additional 6,139 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.11% of BellRing Brands worth $10,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SeaBridge Investment Advisors LLC raised its holdings in BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp raised its holdings in BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after purchasing an additional 185 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after purchasing an additional 188 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in BellRing Brands by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 4,048 shares of the company's stock worth $305,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

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Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares of the company's stock, valued at $59,776,230.80. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Insiders own 1.07% of the company's stock.

BellRing Brands Stock Up 2.7 %

NYSE:BRBR traded up $1.84 on Wednesday, hitting $70.25. The stock had a trading volume of 1,284,485 shares, compared to its average volume of 1,128,253. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The business's 50-day simple moving average is $73.54 and its two-hundred day simple moving average is $70.30. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

BRBR has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on BellRing Brands from $67.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Bank of America raised their price target on BellRing Brands from $75.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Barclays raised their price target on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Stephens restated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BellRing Brands from $73.00 to $77.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.79.

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.