Raymond James Financial Inc. Takes $18.36 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Inc. bought a new position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 243,639 shares of the company's stock, valued at approximately $18,356,000. Raymond James Financial Inc. owned 0.19% of BellRing Brands at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Applied Finance Capital Management LLC bought a new position in BellRing Brands in the fourth quarter valued at about $229,000. Renaissance Technologies LLC increased its position in shares of BellRing Brands by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,746,351 shares of the company's stock worth $131,570,000 after purchasing an additional 198,093 shares during the last quarter. Invesco Ltd. increased its stake in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of BellRing Brands by 11.6% during the 4th quarter. Bank of Montreal Can now owns 28,002 shares of the company's stock worth $2,110,000 after acquiring an additional 2,906 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of BellRing Brands by 905.5% during the fourth quarter. Cerity Partners LLC now owns 53,656 shares of the company's stock worth $4,010,000 after acquiring an additional 48,320 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Trading Up 3.2 %

BellRing Brands stock traded up $2.37 during trading hours on Tuesday, hitting $75.33. 1,144,538 shares of the stock traded hands, compared to its average volume of 1,208,577. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market cap of $9.66 billion, a PE ratio of 35.36, a PEG ratio of 2.24 and a beta of 0.78. The firm's 50-day moving average price is $72.43 and its two-hundred day moving average price is $72.81.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of BellRing Brands 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 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 disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock valued at $16,917,365 in the last three months. 1.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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