Teacher Retirement System of Texas Raises Stake in BellRing Brands, Inc. (NYSE:BRBR)

Teacher Retirement System of Texas boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 21.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 110,599 shares of the company’s stock after purchasing an additional 19,222 shares during the period. Teacher Retirement System of Texas owned approximately 0.09% of BellRing Brands worth $8,333,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in BellRing Brands by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock worth $76,949,000 after purchasing an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC grew its position in BellRing Brands by 152.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after purchasing an additional 10,117 shares during the last quarter. Banco Santander S.A. purchased a new position in BellRing Brands during the 3rd quarter worth $672,000. State Street Corp boosted its holdings in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after acquiring an additional 50,339 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BellRing Brands in the third quarter valued at about $439,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 0.4 %

Shares of BRBR opened at $70.66 on Friday. The stock has a market cap of $9.06 billion, a P/E ratio of 33.17, a PEG ratio of 2.24 and a beta of 0.85. The company has a 50-day moving average of $73.45 and a two-hundred day moving average of $70.51. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (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%. As a group, analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

BRBR has been the topic of several analyst reports. Mizuho lifted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays lifted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Citigroup lifted their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, TD Cowen lifted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and eleven have given 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 price target of $78.79.

Insider Activity

In other news, Director Robert V. Vitale sold 28,453 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value 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. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 218,636 shares of company stock valued at $16,677,550 over the last 90 days. Insiders own 1.07% of the company’s stock.

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.