Kennedy Capital Management LLC Trims Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Kennedy Capital Management LLC trimmed its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,363 shares of the company's stock after selling 11,590 shares during the period. Kennedy Capital Management LLC owned 0.17% of BellRing Brands worth $16,527,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of BellRing Brands during the fourth quarter valued at approximately $18,356,000. Applied Finance Capital Management LLC bought a new stake in BellRing Brands in the 4th quarter valued at $229,000. Renaissance Technologies LLC lifted its stake in BellRing Brands by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,746,351 shares of the company's stock worth $131,570,000 after purchasing an additional 198,093 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of BellRing Brands by 11.6% during the fourth quarter. Bank of Montreal Can now owns 28,002 shares of the company's stock valued at $2,110,000 after purchasing an additional 2,906 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 79,068 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $77.04, for a total value of $6,091,398.72. Following the completion of the transaction, the director now owns 982,706 shares of the company's stock, valued at $75,707,670.24. The trade was a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock worth $16,917,365 over the last three months. 1.07% of the stock is owned by corporate insiders.

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BellRing Brands Stock Up 0.3 %

BRBR traded up $0.26 on Tuesday, reaching $75.47. 258,263 shares of the company traded hands, compared to its average volume of 1,204,095. The company has a market cap of $9.68 billion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The firm has a fifty day simple moving average of $72.67 and a two-hundred day simple moving average of $72.33.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BRBR. 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 note on Wednesday, January 8th. Stephens reiterated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Morgan Stanley began 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. Citigroup increased their price objective 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. Finally, Barclays boosted their target price 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.13.

BellRing Brands 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.