Norges Bank Buys New Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Norges Bank purchased a new position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,515,590 shares of the company's stock, valued at approximately $114,185,000. Norges Bank owned about 1.18% of BellRing Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position 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 valued at $43,000 after purchasing an additional 234 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in BellRing Brands during the fourth quarter worth $52,000. EverSource Wealth Advisors LLC increased its position in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after acquiring an additional 591 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares during the period. Finally, Blue Trust Inc. lifted 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 worth $79,000 after acquiring an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

NYSE:BRBR traded down $3.96 during trading hours on Friday, reaching $69.83. The company's stock had a trading volume of 2,325,214 shares, compared to its average volume of 1,192,857. The company has a market capitalization of $8.96 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The stock has a 50 day moving average price of $73.44 and a two-hundred day moving average price of $71.72. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

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BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping 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%. As a group, analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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

Insider Activity

In other news, Director Robert V. Vitale sold 28,453 shares of the firm's stock in a transaction on 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 sale, the director now owns 1,110,004 shares of the company's stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,828 shares of company stock worth $16,917,365. Corporate insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on BRBR shares. Mizuho increased their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Citigroup raised their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. TD Cowen upped their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Barclays increased their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley began coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 target price for the company. Three investment 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, BellRing Brands presently has an average rating of "Moderate Buy" and an average target price 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.