BellRing Brands, Inc. (NYSE:BRBR) Stock Holdings Reduced by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 95.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 467 shares of the company's stock after selling 9,532 shares during the quarter. CIBC Private Wealth Group LLC's holdings in BellRing Brands were worth $34,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BRBR. Norges Bank purchased a new stake in BellRing Brands in the 4th quarter worth approximately $114,185,000. Assenagon Asset Management S.A. raised its holdings in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock valued at $74,781,000 after buying an additional 661,774 shares during the period. Franklin Resources Inc. boosted its stake in shares of BellRing Brands by 9.3% in the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock valued at $285,646,000 after purchasing an additional 380,216 shares during the period. Primecap Management Co. CA increased its position in shares of BellRing Brands by 94.7% during the fourth quarter. Primecap Management Co. CA now owns 540,000 shares of the company's stock worth $40,684,000 after acquiring an additional 262,609 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in BellRing Brands by 3,112.0% during the 4th quarter. SG Americas Securities LLC now owns 266,533 shares of the company's stock worth $20,081,000 after purchasing an additional 258,235 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Remove Ads

Insider Activity at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert V. Vitale sold 5,100 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the sale, the director now directly owns 1,166,691 shares of the company's stock, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Trading Up 1.3 %

Shares of NYSE BRBR traded up $0.98 during mid-day trading on Tuesday, reaching $76.19. The company had a trading volume of 119,511 shares, compared to its average volume of 1,203,551. The company has a 50-day moving average price of $72.67 and a two-hundred day moving average price of $72.33. The stock has a market cap of $9.77 billion, a PE ratio of 35.75, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued 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, research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on BRBR. Stephens reaffirmed an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Morgan Stanley started coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target for the company. Citigroup increased their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Mizuho raised their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Barclays upped their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. 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, BellRing Brands has an average rating of "Moderate Buy" and an average price target of $79.13.

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.