Pinebridge Investments L.P. Has $5.05 Million Stake in BellRing Brands, Inc. (NYSE:BRBR)

Pinebridge Investments L.P. increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 195.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,084 shares of the company's stock after acquiring an additional 44,396 shares during the quarter. Pinebridge Investments L.P. owned about 0.05% of BellRing Brands worth $5,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BRBR. SeaBridge Investment Advisors LLC grew its holdings in shares of BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after buying an additional 142 shares during the last quarter. Fifth Third Bancorp raised its holdings in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the last quarter. Dorsey Wright & Associates raised its position in shares of BellRing Brands by 0.3% during the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after purchasing an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its position in shares of BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after acquiring an additional 185 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of BellRing Brands by 5.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after buying an additional 188 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,828 shares of company stock valued at $16,917,365. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE:BRBR traded down $0.09 during midday trading on Monday, reaching $75.08. The company had a trading volume of 969,663 shares, compared to its average volume of 1,214,042. The company has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $73.15. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping 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%. Analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has approved a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Barclays upped their target price on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. 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. Citigroup raised their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Mizuho raised their target price on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $79.25.

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.