Primecap Management Co. CA Buys 262,609 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Primecap Management Co. CA increased its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 94.7% during the fourth quarter, HoldingsChannel reports. The fund owned 540,000 shares of the company’s stock after acquiring an additional 262,609 shares during the quarter. Primecap Management Co. CA’s holdings in BellRing Brands were worth $40,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRBR. Atria Investments Inc raised its holdings in shares of BellRing Brands by 10.0% in the 3rd quarter. Atria Investments Inc now owns 10,227 shares of the company’s stock worth $621,000 after acquiring an additional 927 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of BellRing Brands by 20.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,683 shares of the company’s stock worth $284,000 after acquiring an additional 800 shares during the last quarter. KBC Group NV raised its holdings in shares of BellRing Brands by 14.1% in the 3rd quarter. KBC Group NV now owns 3,583 shares of the company’s stock worth $218,000 after acquiring an additional 443 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of BellRing Brands by 0.6% in the 3rd quarter. Natixis Advisors LLC now owns 101,475 shares of the company’s stock worth $6,162,000 after acquiring an additional 589 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of BellRing Brands by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 94,667 shares of the company’s stock worth $5,749,000 after acquiring an additional 10,720 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America upped their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Mizuho increased their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Citigroup increased their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their price objective 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.79.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Down 1.2 %

Shares of BRBR stock opened at $68.38 on Wednesday. The company has a 50 day moving average of $73.54 and a 200-day moving average of $70.30. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm has a market cap of $8.77 billion, a P/E ratio of 32.11, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. 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 has approved a stock buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.