Douglas J. Cornille Sells 3,192 Shares of BellRing Brands, Inc. (NYSE:BRBR) Stock

BellRing Brands, Inc. (NYSE:BRBR) insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

BellRing Brands Stock Up 2.4 %

BRBR traded up $1.80 during trading hours on Wednesday, hitting $76.94. The stock had a trading volume of 1,173,984 shares, compared to its average volume of 1,180,674. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The stock has a market cap of $9.87 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company’s fifty day simple moving average is $73.61 and its 200 day simple moving average is $71.42.

BellRing Brands (NYSE:BRBR) last posted 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%. As a group, equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

Hedge Funds Weigh In On BellRing Brands

A number of institutional investors have recently bought and sold shares of BRBR. 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. raised its stake in BellRing Brands by 2.2% in 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 in the last quarter. Invesco Ltd. lifted its position in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after acquiring an additional 1,121,691 shares during the last quarter. State Street Corp increased its stake in 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 purchasing an additional 50,339 shares during the period. Finally, Wellington Management Group LLP raised its position in BellRing Brands by 32.6% during the 4th 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 during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on BRBR shares. Mizuho raised their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Stephens reiterated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Citigroup increased their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. TD Cowen increased their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and an average 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.