Summit Global Investments Sells 9,610 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Summit Global Investments lessened its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 29.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,728 shares of the company's stock after selling 9,610 shares during the quarter. Summit Global Investments' holdings in BellRing Brands were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after acquiring an additional 234 shares during the period. Truvestments Capital LLC bought a new position in BellRing Brands during the 3rd quarter valued at $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of BellRing Brands during the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC raised its stake in shares of BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after buying an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of BellRing Brands by 18.2% in the fourth 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 period. Institutional investors own 94.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday. They issued an "overweight" rating and a $84.00 target price on the stock. Mizuho raised their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays lifted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $79.13.

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Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction on 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 completion of the sale, the director now owns 1,110,004 shares of the company's stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Up 0.2 %

Shares of BellRing Brands stock traded up $0.13 during midday trading on Thursday, hitting $73.97. The company's stock had a trading volume of 692,385 shares, compared to its average volume of 1,126,379. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The firm has a market capitalization of $9.49 billion, a P/E ratio of 34.73, a PEG ratio of 2.24 and a beta of 0.85. The stock has a 50-day simple moving average of $73.53 and a 200-day simple moving average of $70.87.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping 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, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has authorized a share buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.