30,458 Shares in BellRing Brands, Inc. (NYSE:BRBR) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,458 shares of the company’s stock, valued at approximately $2,295,000.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of BellRing Brands by 2.4% in the 4th quarter. Sei Investments Co. now owns 394,037 shares of the company’s stock valued at $29,687,000 after purchasing an additional 9,281 shares during the period. American Century Companies Inc. boosted its holdings in shares of BellRing Brands by 24.7% in the fourth quarter. American Century Companies Inc. now owns 703,632 shares of the company’s stock valued at $53,012,000 after acquiring an additional 139,322 shares during the period. Quantbot Technologies LP grew its position in shares of BellRing Brands by 68.4% during the fourth quarter. Quantbot Technologies LP now owns 53,993 shares of the company’s stock worth $4,068,000 after acquiring an additional 21,930 shares during the last quarter. Sciencast Management LP increased its holdings in shares of BellRing Brands by 103.4% in the 4th quarter. Sciencast Management LP now owns 18,928 shares of the company’s stock valued at $1,426,000 after acquiring an additional 9,620 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of BellRing Brands by 21.0% in the 4th quarter. Teacher Retirement System of Texas now owns 110,599 shares of the company’s stock valued at $8,333,000 after acquiring an additional 19,222 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $73.97 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The firm has a market capitalization of $9.49 billion, a P/E ratio of 34.73, a PEG ratio of 2.24 and a beta of 0.85. The company’s fifty day moving average is $73.54 and its two-hundred day moving average is $70.89.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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%. On average, sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a share buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the sale, the director now directly owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 in the last quarter. Company insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the topic of several research reports. Citigroup raised their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on BellRing Brands in a report on Monday. They set an “overweight” rating and a $84.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. TD Cowen lifted their target price 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, 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.13.

BellRing Brands 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.