Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in BellRing Brands, Inc. (NYSE:BRBR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,329 shares of the company's stock after purchasing an additional 7,162 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in BellRing Brands were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BRBR. UMB Bank n.a. increased its stake in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after buying an additional 234 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of BellRing Brands during the third quarter worth approximately $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands in the 4th quarter valued at $52,000. Fifth Third Bancorp lifted its holdings in 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 purchasing an additional 153 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of BellRing Brands by 160.5% during the fourth quarter. Blue Trust Inc. now owns 1,050 shares of the company's stock worth $79,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BRBR shares. Mizuho boosted their price target 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. Bank of America boosted their target price on BellRing Brands from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Truist Financial upped their target price on BellRing Brands from $60.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, November 20th. Finally, Barclays boosted their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.79.

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BellRing Brands Price Performance

Shares of BRBR stock traded up $1.84 during trading hours on Wednesday, reaching $70.25. 968,019 shares of the stock were exchanged, compared to its average volume of 1,322,654. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The business's fifty day moving average is $73.54 and its two-hundred day moving average is $70.30. The firm has a market capitalization of $9.01 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.24 and a beta of 0.85.

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

BellRing Brands declared that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, Director Robert V. Vitale sold 28,453 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the sale, the director now directly owns 1,110,004 shares of the company's stock, valued at $85,370,407.64. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is currently owned by insiders.

About BellRing Brands

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.