BellRing Brands, Inc. (NYSE:BRBR) Stock Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 21.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,302 shares of the company's stock after buying an additional 45,136 shares during the period. Envestnet Asset Management Inc. owned 0.20% of BellRing Brands worth $19,460,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC lifted its position in BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after acquiring an additional 142 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares in the last quarter. Dorsey Wright & Associates boosted its stake in BellRing Brands by 0.3% in the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after purchasing an additional 163 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its stake in BellRing Brands by 3.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after purchasing an additional 185 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock valued at $264,000 after acquiring an additional 188 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of the firm'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 completion of the sale, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares in the company, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho boosted 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. Barclays boosted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. TD Cowen boosted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Citigroup raised 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. Finally, Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $79.13.

BellRing Brands Stock Up 1.7 %

BRBR stock traded up $1.28 on Friday, reaching $75.20. 827,818 shares of the company's stock were exchanged, compared to its average volume of 1,208,638. The firm has a market cap of $9.65 billion, a PE ratio of 35.30, a P/E/G 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 has a fifty day moving average of $72.57 and a 200-day moving average of $72.47.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results 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 predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is 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.