Bridgewater Associates LP Reduces Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Bridgewater Associates LP decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 34.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,207 shares of the company’s stock after selling 12,055 shares during the quarter. Bridgewater Associates LP’s holdings in BellRing Brands were worth $1,748,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC boosted its position in BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock worth $1,337,000 after purchasing an additional 142 shares during the period. Fifth Third Bancorp lifted its stake in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after buying an additional 153 shares in the last quarter. Dorsey Wright & Associates boosted its holdings in BellRing Brands by 0.3% in the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock worth $3,799,000 after buying an additional 163 shares during the period. Argonautica Private Wealth Management Inc. grew its stake in BellRing Brands by 3.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock valued at $472,000 after buying an additional 185 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

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

BellRing Brands Stock Up 1.7 %

NYSE BRBR opened at $75.20 on Friday. The stock’s 50-day simple moving average is $72.55 and its two-hundred day simple moving average is $72.56. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has initiated a stock buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the completion of the sale, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,828 shares of company stock worth $16,917,365 in the last 90 days. 1.07% of the stock is owned by company 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.