JPMorgan Chase & Co. Sells 30,793 Shares of BellRing Brands, Inc. (NYSE:BRBR)

JPMorgan Chase & Co. trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 522,151 shares of the company's stock after selling 30,793 shares during the quarter. JPMorgan Chase & Co. owned 0.41% of BellRing Brands worth $39,339,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BRBR. HighTower Advisors LLC grew its position in BellRing Brands by 4.3% during the 3rd 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 during the last quarter. Quadrature Capital Ltd boosted its stake in shares of BellRing Brands by 44.5% during the third quarter. Quadrature Capital Ltd now owns 9,772 shares of the company's stock valued at $594,000 after purchasing an additional 3,009 shares during the period. State Street Corp grew its holdings in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company's stock worth $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company's stock worth $167,388,000 after buying an additional 281,667 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in BellRing Brands during the 3rd quarter valued at $245,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRBR. Morgan Stanley assumed coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target on the stock. Citigroup raised their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Stephens reiterated an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.13.

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Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now owns 818,180 shares in the company, valued at $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is currently owned by corporate insiders.

BellRing Brands Price Performance

NYSE BRBR traded up $1.41 during trading hours on Friday, reaching $75.42. 1,146,358 shares of the company's stock traded hands, compared to its average volume of 1,205,917. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a 50-day simple moving average of $72.69 and a 200 day simple moving average of $72.16. The firm has a market cap of $9.67 billion, a PE ratio of 35.41, a PEG ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results 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%. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has approved a share buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management 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.