Gabelli Funds LLC Sells 12,200 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Gabelli Funds LLC trimmed its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 562,356 shares of the company's stock after selling 12,200 shares during the quarter. Gabelli Funds LLC owned about 0.44% of BellRing Brands worth $42,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BRBR. UMB Bank n.a. boosted its stake in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after purchasing an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands during the fourth quarter worth about $52,000. Aster Capital Management DIFC Ltd lifted its holdings in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after acquiring an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 value of $239,814.96. Following the transaction, the insider now owns 57,836 shares in the company, valued at $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 at the SEC website. Also, Director Robert V. Vitale sold 44,249 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total value of $3,423,545.13. Following the sale, the director now directly owns 938,457 shares of the company's stock, valued at $72,608,418.09. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. Insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BRBR. Morgan Stanley initiated coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target on the stock. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Citigroup upped their price objective 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. Stephens restated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, 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 research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, BellRing Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.13.

BellRing Brands Stock Up 1.7 %

NYSE:BRBR traded up $1.28 during trading hours on Friday, reaching $75.20. The company had a trading volume of 827,818 shares, compared to its average volume of 1,208,638. The firm has a market capitalization of $9.65 billion, a PE ratio of 35.30, a PEG ratio of 2.24 and a beta of 0.78. The stock has a 50-day moving average of $72.57 and a two-hundred day moving average of $72.47. 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 earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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, sell-side analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.