BellRing Brands (NYSE:BRBR) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of BellRing Brands (NYSE:BRBR - Free Report) in a report released on Monday morning, MarketBeat reports. The brokerage issued an overweight rating and a $84.00 price target on the stock.

Several other analysts also recently issued reports on BRBR. Stephens restated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays upped 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. Citigroup raised their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. TD Cowen boosted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Mizuho raised their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.13.

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BellRing Brands Trading Up 0.2 %

BRBR stock traded up $0.18 on Monday, hitting $74.16. 759,190 shares of the company's stock traded hands, compared to its average volume of 1,179,409. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $80.67. The stock has a fifty day moving average of $73.58 and a 200-day moving average of $71.01.

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 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%. On average, equities research analysts anticipate that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a stock buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 28,453 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were 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 in the company, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 218,636 shares of company stock worth $16,677,550. Insiders own 1.07% of the company's stock.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors have recently bought and sold shares of BRBR. Charles Schwab Investment Management Inc. raised its stake in shares of BellRing Brands by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company's stock valued at $76,949,000 after acquiring an additional 333,287 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of BellRing Brands by 152.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock valued at $1,264,000 after purchasing an additional 10,117 shares during the period. State Street Corp lifted its stake 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 buying an additional 50,339 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of BellRing Brands in the third quarter worth $439,000. Finally, Encompass More Asset Management bought a new stake in shares of BellRing Brands during the 4th quarter worth $549,000. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Company 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.