Price T Rowe Associates Inc. MD Reduces Stake in BellRing Brands, Inc. (NYSE:BRBR)

Price T Rowe Associates Inc. MD lowered its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 0.1% during the fourth quarter, HoldingsChannel reports. The fund owned 920,728 shares of the company’s stock after selling 1,043 shares during the period. Price T Rowe Associates Inc. MD’s holdings in BellRing Brands were worth $69,368,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BRBR. Hsbc Holdings PLC boosted its position in shares of BellRing Brands by 155.7% in the 4th quarter. Hsbc Holdings PLC now owns 13,594 shares of the company’s stock valued at $1,031,000 after purchasing an additional 8,278 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of BellRing Brands in the 4th quarter valued at about $218,000. TD Waterhouse Canada Inc. boosted its position in shares of BellRing Brands by 83.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,577 shares of the company’s stock valued at $119,000 after purchasing an additional 719 shares during the period. MetLife Investment Management LLC boosted its position in shares of BellRing Brands by 9.0% in the 4th quarter. MetLife Investment Management LLC now owns 72,844 shares of the company’s stock valued at $5,488,000 after purchasing an additional 6,028 shares during the period. Finally, Claret Asset Management Corp acquired a new stake in shares of BellRing Brands in the 4th quarter valued at about $228,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the sale, the director now directly owns 938,457 shares of the company’s stock, valued at approximately $72,608,418.09. This represents a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRBR. UBS Group began coverage on BellRing Brands in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $81.00 target price for the company. Stephens reissued an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen boosted 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. Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Barclays boosted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.25.

BellRing Brands Stock Down 0.1 %

Shares of BRBR opened at $75.08 on Tuesday. The company has a 50-day simple moving average of $72.24 and a 200-day simple moving average of $73.23. The company has a market capitalization of $9.63 billion, a PE ratio of 35.25, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has initiated a stock buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.