Cynosure Group LLC Sells 2,258 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Cynosure Group LLC trimmed its position in BellRing Brands, Inc. (NYSE:BRBR) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,674 shares of the company’s stock after selling 2,258 shares during the quarter. Cynosure Group LLC’s holdings in BellRing Brands were worth $277,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after purchasing an additional 135,105 shares in the last quarter. Franklin Resources Inc. boosted its stake in BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock valued at $344,885,000 after buying an additional 96,991 shares during the period. State Street Corp boosted its stake in BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after buying an additional 50,339 shares during the period. Wellington Management Group LLP grew its position in BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after buying an additional 898,885 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in BellRing Brands by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,775,559 shares of the company’s stock worth $107,812,000 after acquiring an additional 6,951 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Trading Down 4.0 %

BRBR opened at $73.83 on Friday. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The business’s 50-day moving average price is $73.56 and its 200-day moving average price is $71.48. The company has a market cap of $9.47 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results 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 negative return on equity of 130.14% and a net margin of 13.32%. Equities research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

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

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the company’s stock in a transaction that occurred 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 owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock worth $16,917,365 in the last three months. 1.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRBR shares. Stephens reiterated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Mizuho boosted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target on the stock. TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Barclays upped their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

About BellRing Brands

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.