Loomis Sayles & Co. L P Sells 64,745 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Loomis Sayles & Co. L P decreased its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 743,014 shares of the company's stock after selling 64,745 shares during the period. Loomis Sayles & Co. L P owned 0.58% of BellRing Brands worth $55,979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Holocene Advisors LP bought a new position in BellRing Brands during the third quarter valued at about $69,998,000. Assenagon Asset Management S.A. grew its position in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock valued at $74,781,000 after acquiring an additional 661,774 shares during the period. Wasatch Advisors LP increased its stake in shares of BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock worth $406,903,000 after purchasing an additional 494,669 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company's stock worth $157,202,000 after purchasing an additional 457,796 shares during the period. Finally, Franklin Resources Inc. lifted its stake in BellRing Brands by 9.3% in the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock valued at $285,646,000 after purchasing an additional 380,216 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

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Wall Street Analysts Forecast Growth

BRBR has been the topic of several research reports. TD Cowen boosted 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. Mizuho upped their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Barclays lifted their target price 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. Citigroup upped their price target 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. Finally, Stephens reiterated an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. 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

BellRing Brands stock traded up $0.06 during mid-day trading on Monday, hitting $74.24. 277,415 shares of the company traded hands, compared to its average volume of 1,175,942. The stock has a fifty day moving average price of $73.58 and a 200-day moving average price of $71.19. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. 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 quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share 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%. Sell-side analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were 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 of the company's stock, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 218,636 shares of company stock worth $16,677,550. Company insiders own 1.07% of the company's stock.

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.