California Public Employees Retirement System Has $16.74 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

California Public Employees Retirement System trimmed its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,218 shares of the company's stock after selling 12,622 shares during the period. California Public Employees Retirement System owned approximately 0.17% of BellRing Brands worth $16,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BRBR. UMB Bank n.a. raised its stake in shares of BellRing Brands by 69.4% in 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. E Fund Management Hong Kong Co. Ltd. bought a new stake in BellRing Brands in the fourth quarter worth about $52,000. EverSource Wealth Advisors LLC lifted its holdings in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after acquiring an additional 591 shares during the last quarter. 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 acquiring an additional 153 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of BellRing Brands by 160.5% during the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company's stock valued at $79,000 after purchasing an additional 647 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of analysts recently weighed in 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. Stephens reissued an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Barclays boosted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the transaction, the director now owns 818,180 shares of the company's stock, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was 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 approximately $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock valued at $16,917,365 over the last ninety days. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded up $5.01 during mid-day trading on Wednesday, reaching $74.68. The company had a trading volume of 1,712,254 shares, compared to its average volume of 1,204,655. The stock has a market capitalization of $9.58 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The stock's 50 day moving average is $72.78 and its 200-day moving average is $71.96.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared 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 buy up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.