BellRing Brands, Inc. (NYSE:BRBR) Position Boosted by LPL Financial LLC

LPL Financial LLC boosted its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,514 shares of the company's stock after acquiring an additional 10,882 shares during the quarter. LPL Financial LLC's holdings in BellRing Brands were worth $2,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRBR. MML Investors Services LLC lifted its position in shares of BellRing Brands by 8.9% during the 3rd quarter. MML Investors Services LLC now owns 5,832 shares of the company's stock worth $354,000 after purchasing an additional 476 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in BellRing Brands by 1.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 77,816 shares of the company's stock valued at $4,725,000 after buying an additional 1,380 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in BellRing Brands during the 3rd quarter worth about $439,000. Wilmington Savings Fund Society FSB acquired a new position in shares of BellRing Brands during the 3rd quarter worth about $338,000. Finally, Franklin Resources Inc. increased its holdings in shares of BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock valued at $285,646,000 after acquiring an additional 380,216 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

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Insider Buying and Selling at BellRing Brands

In related news, 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 owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value 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 $85,370,407.64. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,828 shares of company stock valued at $16,917,365. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of BRBR stock traded up $0.31 during mid-day trading on Tuesday, hitting $75.52. 750,747 shares of the stock traded hands, compared to its average volume of 1,207,677. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The company's 50-day simple moving average is $72.67 and its 200-day simple moving average is $72.33. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67.

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

BellRing Brands declared that its board has authorized a stock repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase 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.

Analysts Set New Price Targets

Several research firms recently weighed in on BRBR. Stephens restated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. TD Cowen raised their target price 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 increased their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Morgan Stanley assumed coverage on BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Finally, Mizuho upped their price target 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. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $79.13.

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.