Voleon Capital Management LP Acquires Shares of 57,251 BellRing Brands, Inc. (NYSE:BRBR)

Voleon Capital Management LP acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,251 shares of the company’s stock, valued at approximately $4,313,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings 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 valued at $171,663,000 after purchasing an additional 1,685,525 shares in the last quarter. Northern Trust Corp lifted its holdings in BellRing Brands by 27.4% during the fourth quarter. Northern Trust Corp now owns 1,115,457 shares of the company’s stock valued at $84,039,000 after purchasing an additional 239,961 shares in the last quarter. Quarry LP lifted its holdings in BellRing Brands by 267.2% during the fourth quarter. Quarry LP now owns 2,236 shares of the company’s stock valued at $168,000 after purchasing an additional 1,627 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in BellRing Brands during the fourth quarter valued at $413,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in BellRing Brands by 13.1% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 486,946 shares of the company’s stock valued at $36,687,000 after purchasing an additional 56,450 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price for the company. Stephens reiterated an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen increased their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Barclays increased their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Citigroup increased their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $76.68 on Wednesday. The firm has a market cap of $9.84 billion, a P/E ratio of 36.00, a P/E/G ratio of 2.24 and a beta of 0.78. The firm’s 50 day moving average price is $72.30 and its 200-day moving average price is $73.25. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS 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, research analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 44,249 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the transaction, the director now directly owns 938,457 shares in the company, valued at $72,608,418.09. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s 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 transaction, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock worth $16,917,365 over the last ninety days. Corporate insiders own 1.07% of the company’s stock.

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.