33,018 Shares in BellRing Brands, Inc. (NYSE:BRBR) Bought by Numerai GP LLC

Numerai GP LLC purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 33,018 shares of the company’s stock, valued at approximately $2,488,000. BellRing Brands accounts for approximately 0.7% of Numerai GP LLC’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of BellRing Brands by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after buying an additional 135,105 shares during the period. Franklin Resources Inc. grew its holdings in BellRing Brands by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock worth $344,885,000 after acquiring an additional 96,991 shares in the last quarter. Invesco Ltd. increased its position in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP increased its position in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after purchasing an additional 898,885 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of BellRing Brands by 32.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company’s stock valued at $174,866,000 after purchasing an additional 564,342 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

BRBR opened at $63.61 on Wednesday. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The stock has a market cap of $8.16 billion, a P/E ratio of 29.86, a P/E/G ratio of 2.24 and a beta of 0.86. The stock’s 50 day simple moving average is $71.76 and its 200 day simple moving average is $73.51.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $577.56 million. During the same quarter last year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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

Analysts Set New Price Targets

BRBR has been the topic of several recent analyst reports. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price on the stock. UBS Group dropped their price objective on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Barclays set a $75.00 target price on BellRing Brands and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Evercore ISI lowered their price target on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Finally, Mizuho raised their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Activity

In related news, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the sale, the director now owns 938,457 shares of the company’s stock, valued at $72,608,418.09. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,275 shares of company stock worth $14,345,014 over the last ninety days. 1.07% of the stock is currently owned by insiders.

BellRing Brands Company Profile

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.