BellRing Brands, Inc. (NYSE:BRBR) Shares Acquired by Sciencast Management LP

Sciencast Management LP lifted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 103.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,928 shares of the company’s stock after acquiring an additional 9,620 shares during the period. Sciencast Management LP’s holdings in BellRing Brands were worth $1,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BRBR. Natixis Advisors LLC raised its position in shares of BellRing Brands by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 101,475 shares of the company’s stock worth $6,162,000 after acquiring an additional 589 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of BellRing Brands by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 94,667 shares of the company’s stock worth $5,749,000 after acquiring an additional 10,720 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in BellRing Brands during the 3rd quarter worth approximately $1,346,000. Intech Investment Management LLC purchased a new position in BellRing Brands during the 3rd quarter worth approximately $3,871,000. Finally, Primecap Management Co. CA purchased a new position in BellRing Brands during the 3rd quarter worth approximately $16,843,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRBR. Barclays raised their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. TD Cowen raised their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Mizuho raised 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. Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, Citigroup raised their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of BellRing Brands 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 completion of the transaction, the director now directly owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 over the last three months. 1.07% of the stock is currently owned by corporate insiders.

BellRing Brands Price Performance

BellRing Brands stock opened at $70.66 on Friday. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The company has a market cap of $9.06 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The stock’s 50 day moving average price is $73.45 and its 200 day moving average price is $70.51.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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.