BellRing Brands, Inc. (NYSE:BRBR) Holdings Cut by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. lowered its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,121 shares of the company's stock after selling 20,915 shares during the period. Landscape Capital Management L.L.C.'s holdings in BellRing Brands were worth $4,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRBR. UMB Bank n.a. lifted its stake in shares of BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after purchasing an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands during the 4th quarter worth about $52,000. EverSource Wealth Advisors LLC grew its holdings in BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 591 shares during the period. Fifth Third Bancorp raised its stake in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of BellRing Brands by 160.5% in the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company's stock valued at $79,000 after purchasing an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Remove Ads

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded down $0.11 during trading on Wednesday, reaching $69.56. The company had a trading volume of 569,587 shares, compared to its average volume of 1,199,536. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The firm's fifty day moving average is $72.92 and its 200-day moving average is $71.85. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (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, research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has initiated a stock buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Mizuho boosted their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. Stephens reissued an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, TD Cowen increased their target price on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $79.13.

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 that occurred on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock worth $16,917,365 over the last 90 days. Insiders own 1.07% of the company's stock.

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.