Geode Capital Management LLC Acquires 5,452 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Geode Capital Management LLC boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,245,266 shares of the company's stock after purchasing an additional 5,452 shares during the period. Geode Capital Management LLC owned approximately 1.74% of BellRing Brands worth $169,209,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. SeaBridge Investment Advisors LLC increased its holdings in shares of BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after buying an additional 142 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 acquiring an additional 153 shares during the last quarter. Dorsey Wright & Associates raised its position in shares of BellRing Brands by 0.3% during the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after purchasing an additional 163 shares during the period. Argonautica Private Wealth Management Inc. lifted its holdings in shares of BellRing Brands by 3.0% during the fourth 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted 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 purchasing an additional 188 shares during the period. 94.97% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several analysts have issued reports on BRBR shares. Stephens restated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. TD Cowen raised their price objective 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. Barclays lifted 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. Finally, Mizuho increased their target price on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $79.13.

BellRing Brands Trading Up 1.9 %

NYSE BRBR traded up $1.41 on Friday, reaching $75.42. The stock had a trading volume of 1,146,358 shares, compared to its average volume of 1,205,917. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The business has a 50 day moving average price of $72.69 and a 200 day moving average price of $72.16. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 35.41, a P/E/G ratio of 2.24 and a beta of 0.78.

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 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, 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 initiated a stock repurchase 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 believes its stock is undervalued.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands 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 directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Vitale sold 5,100 shares of BellRing Brands stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the transaction, the director now directly owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. This represents a 0.44 % 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 worth $16,917,365 in the last 90 days. 1.07% of the stock is owned by insiders.

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.