BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Invesco Ltd.

Invesco Ltd. increased its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,266,375 shares of the company's stock after buying an additional 1,121,691 shares during the quarter. Invesco Ltd. owned 3.31% of BellRing Brands worth $321,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRBR. Bank of Montreal Can raised its holdings in BellRing Brands by 11.6% in the 4th quarter. Bank of Montreal Can now owns 28,002 shares of the company's stock worth $2,110,000 after purchasing an additional 2,906 shares during the period. Cerity Partners LLC grew its stake in shares of BellRing Brands by 905.5% during the 4th quarter. Cerity Partners LLC now owns 53,656 shares of the company's stock valued at $4,010,000 after acquiring an additional 48,320 shares during the period. FMR LLC raised its stake in BellRing Brands by 32.4% during the 4th quarter. FMR LLC now owns 1,502,042 shares of the company's stock worth $113,164,000 after acquiring an additional 367,822 shares during the period. Aristides Capital LLC purchased a new position in BellRing Brands during the fourth quarter valued at approximately $343,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after buying an additional 643 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the sale, the director now owns 818,180 shares in the company, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the business'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 sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock worth $16,917,365 in the last ninety days. Company insiders own 1.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BRBR shares. Barclays boosted their price objective on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Stephens reissued an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Citigroup boosted their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. TD Cowen increased their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley assumed coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.13.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded up $0.51 during trading on Tuesday, hitting $75.72. 181,623 shares of the company's stock were exchanged, compared to its average volume of 1,203,776. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 2.24 and a beta of 0.78. The business has a 50-day simple moving average of $72.67 and a 200-day simple moving average of $72.33.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a stock buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are 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.