BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 56.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,249 shares of the company's stock after selling 15,979 shares during the quarter. XTX Topco Ltd's holdings in BellRing Brands were worth $923,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

BRBR has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Mizuho lifted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup upped their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. TD Cowen lifted their price objective 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 raised their target price on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Insider Activity

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 shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now owns 1,110,004 shares of the company's stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock worth $16,917,365 over the last three months. 1.07% of the stock is currently owned by corporate insiders.

BellRing Brands Trading Up 3.0 %

Shares of BRBR stock traded up $2.16 during mid-day trading on Tuesday, reaching $75.12. The stock had a trading volume of 251,876 shares, compared to its average volume of 1,204,322. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The business has a 50-day simple moving average of $72.47 and a 200 day simple moving average of $72.80. The company has a market cap of $9.64 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating 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%. Research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has approved a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

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.