BellRing Brands, Inc. (NYSE:BRBR) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 32.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,655,607 shares of the company's stock after buying an additional 898,885 shares during the quarter. Wellington Management Group LLP owned 2.85% of BellRing Brands worth $275,413,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SeaBridge Investment Advisors LLC increased its holdings in BellRing Brands by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after acquiring an additional 142 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares in the last quarter. Dorsey Wright & Associates raised its position in shares of BellRing Brands by 0.3% during the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after purchasing an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its position in shares of BellRing Brands by 3.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after purchasing an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock valued at $264,000 after buying an additional 188 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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BellRing Brands Trading Down 5.4 %

BRBR traded down $3.96 on Friday, hitting $69.83. 2,325,214 shares of the company were exchanged, compared to its average volume of 1,192,857. The firm has a 50-day moving average price of $73.44 and a two-hundred day moving average price of $71.72. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping 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%. Equities 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 stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares of the company's stock, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock worth $16,917,365 in the last 90 days. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BRBR. TD Cowen increased their target price on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Citigroup increased their price objective on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Mizuho lifted their target price 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. Stephens reiterated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, Morgan Stanley initiated coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.