Kennedy Capital Management LLC Sells 11,590 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Kennedy Capital Management LLC lessened its position in BellRing Brands, Inc. (NYSE:BRBR) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 219,363 shares of the company’s stock after selling 11,590 shares during the period. Kennedy Capital Management LLC’s holdings in BellRing Brands were worth $16,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in shares of BellRing Brands by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 50,357 shares of the company’s stock worth $3,061,000 after buying an additional 2,085 shares during the last quarter. State Street Corp increased its holdings in BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after acquiring an additional 50,339 shares in the last quarter. MML Investors Services LLC increased its holdings in BellRing Brands by 8.9% in the 3rd quarter. MML Investors Services LLC now owns 5,832 shares of the company’s stock worth $354,000 after acquiring an additional 476 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in BellRing Brands by 1.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 77,816 shares of the company’s stock worth $4,725,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BellRing Brands during the third quarter worth $439,000. Institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 818,180 shares in the company, 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 sold 221,828 shares of company stock valued at $16,917,365 over the last 90 days. 1.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective 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. Morgan Stanley started coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. 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 research note on Wednesday, January 29th. Barclays increased their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, TD Cowen raised their target price 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Stock Performance

Shares of BRBR opened at $74.68 on Thursday. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The stock’s fifty day moving average is $72.78 and its 200-day moving average is $71.96.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

BellRing Brands 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.