First Trust Advisors LP Has $16.55 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

First Trust Advisors LP lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 219,610 shares of the company’s stock after buying an additional 47,199 shares during the quarter. First Trust Advisors LP owned about 0.17% of BellRing Brands worth $16,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. UMB Bank n.a. boosted its stake in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after acquiring an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of BellRing Brands during the 4th quarter worth about $52,000. Aster Capital Management DIFC Ltd grew its stake in shares of BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after buying an additional 643 shares during the period. EverSource Wealth Advisors LLC increased its position in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after buying an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in 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. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $75.17 on Friday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm’s 50-day simple moving average is $72.29 and its two-hundred day simple moving average is $73.07. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results 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 net margin of 13.32% and a negative return on equity of 130.14%. 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 program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BRBR has been the subject of a number of research reports. Citigroup raised 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 boosted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley started coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. UBS Group began coverage on shares of BellRing Brands in a report on Wednesday. They issued a “neutral” rating and a $81.00 target price on the stock. Finally, Barclays lifted 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Insider Transactions at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, the director now owns 1,166,691 shares in the company, valued at $87,851,832.30. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is owned by company insiders.

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.