Parr Mcknight Wealth Management Group LLC Acquires Shares of 18,569 BellRing Brands, Inc. (NYSE:BRBR)

Parr Mcknight Wealth Management Group LLC bought a new position in BellRing Brands, Inc. (NYSE:BRBR) during the 4th quarter, HoldingsChannel reports. The fund bought 18,569 shares of the company’s stock, valued at approximately $1,399,000.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Mizuho upped 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. UBS Group dropped their target price on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. DA Davidson set a $85.00 price target on BellRing Brands in a research note on Thursday, May 15th. Finally, Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.63.

BellRing Brands Price Performance

Shares of NYSE:BRBR opened at $61.79 on Friday. The company has a market capitalization of $7.85 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The firm’s 50 day simple moving average is $71.14 and its two-hundred day simple moving average is $73.31.

BellRing Brands (NYSE:BRBR) last issued 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 business had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. BellRing Brands’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has authorized a share buyback plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert V. Vitale sold 15,000 shares of the company’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 transaction, the director now owns 818,180 shares of the company’s stock, valued at approximately $59,776,230.80. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

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.