State of New Jersey Common Pension Fund D Purchases 3,491 Shares of BellRing Brands Inc. $BRBR

State of New Jersey Common Pension Fund D increased its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,359 shares of the company’s stock after purchasing an additional 3,491 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BellRing Brands were worth $2,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. William Blair Investment Management LLC bought a new stake in BellRing Brands in the second quarter valued at $124,777,000. Axiom Investors LLC DE grew its position in BellRing Brands by 418.1% in the first quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after acquiring an additional 1,814,811 shares during the period. Junto Capital Management LP bought a new stake in BellRing Brands in the first quarter valued at $97,725,000. Nuveen LLC bought a new stake in BellRing Brands in the first quarter valued at $71,004,000. Finally, Baird Financial Group Inc. bought a new stake in BellRing Brands in the first quarter valued at $38,642,000. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Down 0.9%

BellRing Brands stock opened at $31.60 on Wednesday. The business’s 50-day simple moving average is $36.62 and its 200 day simple moving average is $51.88. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.55 and a beta of 0.75. BellRing Brands Inc. has a 12-month low of $30.44 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $282.40 million for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. As a group, sell-side analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has initiated a share buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BRBR shares. Evercore ISI lowered their price target on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Barclays lowered their price target on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. lowered their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Mizuho lowered their price target on BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Finally, Jefferies Financial Group increased their target price on BellRing Brands from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.56.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Craig L. Rosenthal purchased 2,600 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $37.29 per share, with a total value of $96,954.00. Following the completion of the transaction, the insider directly owned 33,475 shares in the company, valued at $1,248,282.75. This trade represents a 8.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 6,616 shares of company stock valued at $65,995,248 over the last 90 days. 1.07% of the stock is owned by company 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.