Focus Partners Wealth Buys 11,821 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Focus Partners Wealth boosted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,609 shares of the company’s stock after purchasing an additional 11,821 shares during the quarter. Focus Partners Wealth owned about 0.08% of BellRing Brands worth $7,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRBR. AQR Capital Management LLC boosted its position in BellRing Brands by 284.2% during the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock worth $171,663,000 after purchasing an additional 1,685,525 shares during the period. Norges Bank acquired a new stake in shares of BellRing Brands during the fourth quarter worth $114,185,000. Invesco Ltd. lifted its holdings in shares of BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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, Bank of America Corp DE lifted its holdings in shares of BellRing Brands by 73.5% during the fourth quarter. Bank of America Corp DE now owns 1,709,652 shares of the company’s stock worth $128,805,000 after buying an additional 724,337 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BRBR shares. Stephens reissued an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Evercore ISI dropped their target price on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Mizuho lifted their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. UBS Group dropped their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, 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 target for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Insider Buying and Selling

In related news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the sale, the director now directly owns 818,180 shares of the company’s stock, valued at $59,776,230.80. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,275 shares of company stock worth $14,345,014 in the last ninety days. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR stock opened at $63.61 on Wednesday. The business’s 50 day simple moving average is $71.76 and its 200 day simple moving average is $73.51. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The stock has a market capitalization of $8.16 billion, a PE ratio of 29.86, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. As a group, research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has approved a share repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.