Vestcor Inc Sells 71,100 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Vestcor Inc lessened its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 50.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,500 shares of the company's stock after selling 71,100 shares during the period. Vestcor Inc owned approximately 0.05% of BellRing Brands worth $5,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BRBR. EverSource Wealth Advisors LLC boosted its stake in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after purchasing an additional 591 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of BellRing Brands during the fourth quarter worth about $328,000. AGF Management Ltd. grew its holdings in shares of BellRing Brands by 2.9% during the fourth quarter. AGF Management Ltd. now owns 103,006 shares of the company's stock worth $7,760,000 after buying an additional 2,913 shares in the last quarter. Daiwa Securities Group Inc. raised its position in BellRing Brands by 23.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the company's stock valued at $753,000 after buying an additional 1,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BellRing Brands by 25.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,329 shares of the company's stock worth $2,662,000 after acquiring an additional 7,162 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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BellRing Brands Stock Performance

Shares of BRBR stock traded down $0.85 on Tuesday, hitting $68.38. The company's stock had a trading volume of 1,260,705 shares, compared to its average volume of 1,127,345. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock's 50 day moving average is $73.63 and its 200-day moving average is $70.22. The company has a market capitalization of $8.77 billion, a PE ratio of 32.11, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the sale, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 218,636 shares of company stock valued at $16,677,550 in the last three months. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BRBR shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Barclays boosted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. DA Davidson reaffirmed a "neutral" rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. Stifel Nicolaus increased their price target on BellRing Brands from $67.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Mizuho boosted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three equities 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 an average rating of "Moderate Buy" and an average price target of $78.79.

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.