Franklin Resources Inc. Buys 96,991 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Franklin Resources Inc. raised its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,577,708 shares of the company's stock after buying an additional 96,991 shares during the quarter. Franklin Resources Inc. owned about 3.55% of BellRing Brands worth $344,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BRBR. Pallas Capital Advisors LLC lifted its position in BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock valued at $1,264,000 after acquiring an additional 10,117 shares in the last quarter. State Street Corp raised 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 purchasing an additional 50,339 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of BellRing Brands in the third quarter valued at about $439,000. Encompass More Asset Management acquired a new position in shares of BellRing Brands during the fourth quarter worth about $549,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of BellRing Brands by 4.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock worth $6,223,000 after buying an additional 3,865 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Down 5.4 %

Shares of BRBR stock traded down $3.96 during trading on Friday, reaching $69.83. 2,325,214 shares of the company's stock were exchanged, compared to its average volume of 1,192,857. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The firm's fifty day moving average price is $73.44 and its 200-day moving average price is $71.64. The stock has a market capitalization of $8.96 billion, a PE ratio of 32.78, a PEG ratio of 2.24 and a beta of 0.78.

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BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate 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 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a stock buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares of the company's stock, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was 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 in the company, 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 have sold a total of 221,828 shares of company stock valued at $16,917,365 in the last three months. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on BRBR shares. Stephens restated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Barclays boosted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Citigroup raised 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. Morgan Stanley initiated coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. Finally, Mizuho raised their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and a consensus target price 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.