24,500 Shares in BellRing Brands, Inc. (NYSE:BRBR) Bought by National Bank of Canada FI

National Bank of Canada FI purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,500 shares of the company's stock, valued at approximately $1,846,000.

A number of other hedge funds have also added to or reduced their stakes in BRBR. Pallas Capital Advisors LLC increased its position in BellRing Brands by 152.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock worth $1,264,000 after buying an additional 10,117 shares during the last quarter. State Street Corp lifted its position in shares of BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company's stock worth $236,001,000 after acquiring an additional 50,339 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of BellRing Brands in the third quarter worth $439,000. Encompass More Asset Management purchased a new position in shares of BellRing Brands in the fourth quarter valued at $549,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of BellRing Brands by 4.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock valued at $6,223,000 after purchasing an additional 3,865 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BRBR shares. Citigroup boosted their price target 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. TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Stephens reaffirmed an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays boosted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Mizuho raised their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BellRing Brands has an average rating of "Moderate Buy" and an average target price of $79.13.

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Insider Buying and Selling

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 79,068 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $77.04, for a total transaction of $6,091,398.72. Following the sale, the director now directly owns 982,706 shares in the company, valued at approximately $75,707,670.24. This represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock valued at $16,917,365 over the last three months. 1.07% of the stock is owned by company insiders.

BellRing Brands Price Performance

Shares of BellRing Brands stock traded down $0.41 on Monday, reaching $75.18. The company had a trading volume of 102,836 shares, compared to its average volume of 1,203,542. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.24 and a beta of 0.78. The firm's 50-day moving average price is $72.69 and its two-hundred day moving average price is $72.24. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 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 (EPS) for the quarter, topping 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%. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has authorized a share 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 a sign that the company's board of directors 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.