Dynamic Technology Lab Private Ltd Acquires New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Dynamic Technology Lab Private Ltd bought a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,666 shares of the company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in BellRing Brands by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 226,371 shares of the company's stock worth $17,055,000 after buying an additional 7,782 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in BellRing Brands by 10.4% during the fourth quarter. Motley Fool Asset Management LLC now owns 31,800 shares of the company's stock worth $2,396,000 after purchasing an additional 3,000 shares during the period. Bryce Point Capital LLC bought a new stake in BellRing Brands in the fourth quarter worth approximately $608,000. National Bank of Canada FI acquired a new position in BellRing Brands in the fourth quarter valued at approximately $1,846,000. Finally, Franklin Resources Inc. boosted its holdings in shares of BellRing Brands by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after buying an additional 96,991 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Price Performance

Shares of NYSE BRBR traded up $0.34 during midday trading on Wednesday, reaching $75.92. The company's stock had a trading volume of 91,848 shares, compared to its average volume of 1,313,743. The stock has a market capitalization of $9.74 billion, a P/E ratio of 35.63, a PEG ratio of 2.24 and a beta of 0.78. The firm has a 50 day moving average price of $72.63 and a 200-day moving average price of $72.36. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

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

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Citigroup lifted their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. TD Cowen increased their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Mizuho raised their target price on 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 BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $79.13.

Insiders Place Their Bets

In related news, insider Douglas J. Cornille sold 3,192 shares of the company'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 in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,095,900.00. Following the completion of the transaction, the director now owns 818,180 shares of the company's stock, valued at $59,776,230.80. This represents a 1.80 % 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. 1.07% of the stock is currently owned by insiders.

BellRing Brands 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.