Primecap Management Co. CA Raises Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Primecap Management Co. CA lifted its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 94.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 540,000 shares of the company's stock after purchasing an additional 262,609 shares during the quarter. Primecap Management Co. CA owned 0.42% of BellRing Brands worth $40,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRBR. Wasatch Advisors LP boosted its stake in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock worth $406,903,000 after buying an additional 494,669 shares during the period. Franklin Resources Inc. boosted its stake in BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock worth $285,646,000 after buying an additional 380,216 shares during the period. State Street Corp boosted its stake in 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 buying an additional 50,339 shares during the period. Wellington Management Group LLP boosted its stake in BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company's stock worth $167,388,000 after buying an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company's stock worth $157,202,000 after buying an additional 457,796 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms have commented on BRBR. Mizuho lifted 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. TD Cowen lifted their price objective 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 lifted their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Citigroup lifted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.79.

BellRing Brands Stock Up 0.4 %

Shares of BRBR stock traded up $0.26 on Friday, hitting $70.66. The stock had a trading volume of 1,132,516 shares, compared to its average volume of 1,126,742. The business has a 50 day moving average price of $73.45 and a 200 day moving average price of $70.41. The company has a market cap of $9.06 billion, a PE ratio of 33.17, a P/E/G 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 released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share 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%. Equities research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has approved a share buyback program on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is owned by corporate insiders.

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.