Raymond James Financial Inc. acquired a new stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 243,639 shares of the company's stock, valued at approximately $18,356,000. Raymond James Financial Inc. owned about 0.19% of BellRing Brands as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after acquiring an additional 234 shares during the period. Truvestments Capital LLC acquired a new position in BellRing Brands in the third quarter valued at approximately $44,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of BellRing Brands during the 4th quarter worth approximately $52,000. Fifth Third Bancorp grew its position in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after buying an additional 153 shares during the period. Finally, Blue Trust Inc. increased its stake 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 valued at $79,000 after acquiring an additional 647 shares in the last quarter. Institutional investors own 94.97% of the company's stock.
Insider Activity at BellRing Brands
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 transaction, the director now directly owns 818,180 shares in the company, valued at $59,776,230.80. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is owned by company insiders.
BellRing Brands Price Performance
Shares of NYSE BRBR traded up $0.26 during midday trading on Friday, reaching $70.66. The company's stock had a trading volume of 1,104,855 shares, compared to its average volume of 1,127,126. The stock has a market capitalization of $9.06 billion, a P/E ratio of 33.17, a PEG ratio of 2.24 and a beta of 0.85. The firm has a 50 day moving average price of $73.46 and a 200-day moving average price of $70.30. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.
BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.
BellRing Brands announced that its board has approved a share repurchase program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Stephens restated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. TD Cowen upped their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Mizuho raised their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Citigroup upped 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, Barclays lifted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating 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. According to data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.79.
Check Out Our Latest Research Report on BRBR
About BellRing Brands
(
Free Report)
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.
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