Federated Hermes Inc. Purchases 169,519 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Federated Hermes Inc. boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 645,431 shares of the company's stock after purchasing an additional 169,519 shares during the period. Federated Hermes Inc. owned about 0.50% of BellRing Brands worth $48,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in BellRing Brands by 4.3% in the third quarter. HighTower Advisors LLC now owns 50,357 shares of the company's stock worth $3,061,000 after purchasing an additional 2,085 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of BellRing Brands by 44.5% during the third quarter. Quadrature Capital Ltd now owns 9,772 shares of the company's stock worth $594,000 after purchasing an additional 3,009 shares during the period. State Street Corp increased its stake in shares of BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company's stock valued at $236,001,000 after acquiring an additional 50,339 shares during the last quarter. Wellington Management Group LLP increased its stake in BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company's stock valued at $167,388,000 after purchasing an additional 281,667 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in BellRing Brands in the third quarter worth $245,000. Institutional investors own 94.97% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have issued reports on BRBR. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. 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 reiterated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays raised their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Citigroup upped their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $79.13.

BellRing Brands Price Performance

BRBR stock traded up $1.41 during midday trading on Friday, reaching $75.42. 1,146,358 shares of the company were exchanged, compared to its average volume of 1,207,727. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The business has a 50-day moving average price of $72.69 and a two-hundred day moving average price of $72.24. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares in the company, 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. Over the last quarter, insiders have sold 221,828 shares of company stock worth $16,917,365. 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.