Proficio Capital Partners LLC Makes New $4.66 Million Investment in BellRing Brands, Inc. (NYSE:BRBR)

Proficio Capital Partners LLC purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 61,854 shares of the company's stock, valued at approximately $4,660,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position 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 buying an additional 494,669 shares in the last quarter. Franklin Resources Inc. boosted its position in BellRing Brands by 9.3% in the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock worth $285,646,000 after purchasing an additional 380,216 shares during the last quarter. State Street Corp grew its stake in BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company's stock valued at $236,001,000 after purchasing an additional 50,339 shares during the period. Wellington Management Group LLP increased its position in shares of BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company's stock valued at $167,388,000 after purchasing an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of BellRing Brands by 21.5% during 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. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the completion of the sale, the director now owns 818,180 shares of the company's stock, valued at $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 is available at this hyperlink. Insiders sold a total of 218,636 shares of company stock valued at $16,677,550 in the last quarter. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Up 0.4 %

NYSE:BRBR traded up $0.26 during trading hours on Friday, hitting $70.66. 1,104,855 shares of the company's stock traded hands, compared to its average volume of 1,127,126. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The business's fifty day simple moving average is $73.46 and its two-hundred day simple moving average is $70.30. The firm has a market cap of $9.06 billion, a P/E ratio of 33.17, a P/E/G ratio of 2.24 and a beta of 0.85.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. On average, analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of research analyst reports. Stephens restated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Mizuho lifted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Citigroup increased their price objective on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. 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. Finally, Barclays lifted 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BellRing Brands presently has an average rating of "Moderate Buy" and an average target price of $78.79.

BellRing Brands Company Profile

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.