Vanguard Group Inc. Buys 135,105 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Vanguard Group Inc. grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,438,006 shares of the company’s stock after buying an additional 135,105 shares during the period. Vanguard Group Inc. owned approximately 10.43% of BellRing Brands worth $1,012,419,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stevens Capital Management LP acquired a new position in BellRing Brands in the 4th quarter valued at approximately $206,000. LPL Financial LLC raised its stake in shares of BellRing Brands by 40.9% in the fourth quarter. LPL Financial LLC now owns 37,514 shares of the company’s stock valued at $2,826,000 after purchasing an additional 10,882 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in BellRing Brands in the fourth quarter worth $2,295,000. Sei Investments Co. lifted its position in BellRing Brands by 2.4% in the fourth quarter. Sei Investments Co. now owns 394,037 shares of the company’s stock worth $29,687,000 after purchasing an additional 9,281 shares during the period. Finally, American Century Companies Inc. boosted its stake in BellRing Brands by 24.7% during the fourth quarter. American Century Companies Inc. now owns 703,632 shares of the company’s stock worth $53,012,000 after buying an additional 139,322 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 0.2 %

Shares of NYSE BRBR opened at $74.16 on Friday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $71.01. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85.

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%. On average, equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has approved a stock repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BRBR shares. TD Cowen raised 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. Citigroup raised their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley began coverage on BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective on the stock. Mizuho raised their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Barclays boosted their price target on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.13.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is currently owned by corporate 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.