Stock Repurchase Program Declared by BellRing Brands (NYSE:BRBR) Board

BellRing Brands (NYSE:BRBR - Get Free Report) declared that its board has authorized a stock repurchase plan on Thursday, March 6th, RTT News reports. The company plans 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 plans are often an indication that the company's board of directors believes its shares are undervalued.

BellRing Brands Trading Up 0.9 %

BRBR stock traded up $0.61 during mid-day trading on Friday, reaching $69.02. The company's stock had a trading volume of 1,972,344 shares, compared to its average volume of 1,119,029. The stock has a market cap of $8.85 billion, a PE ratio of 32.41, a P/E/G ratio of 2.24 and a beta of 0.85. The company's 50 day moving average is $74.53 and its two-hundred day moving average is $69.54. BellRing Brands has a fifty-two week low of $48.06 and a fifty-two week high of $80.67.

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

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Analyst Ratings Changes

Several analysts have commented on the company. DA Davidson reissued a "neutral" rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Citigroup increased their target price on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Truist Financial boosted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, November 20th. Barclays upped their price objective 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, Mizuho lifted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $78.79.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 15,000 shares of the firm's 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 completion of the sale, the director now owns 818,180 shares in the company, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 in the last quarter. Company insiders own 1.07% of the company's stock.

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.