FORA Capital LLC Takes $973,000 Position in BellRing Brands, Inc. (NYSE:BRBR)

FORA Capital LLC acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,917 shares of the company's stock, valued at approximately $973,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRBR. AQR Capital Management LLC increased its position in shares of BellRing Brands by 284.2% in 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 BellRing Brands during the fourth quarter worth about $114,185,000. Invesco Ltd. increased its holdings in BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after buying an additional 1,121,691 shares during the period. Wellington Management Group LLP raised its position in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock valued at $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 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock worth $128,805,000 after acquiring an additional 724,337 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BellRing Brands 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 transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The shares were 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 $59,776,230.80. This represents 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 216,728 shares of company stock valued at $16,533,335 over the last ninety days. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Price Performance

Shares of BellRing Brands stock traded down $1.53 on Tuesday, hitting $63.61. 3,203,168 shares of the company's stock traded hands, compared to its average volume of 1,289,766. The company has a fifty day moving average of $71.85 and a two-hundred day moving average of $73.58. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) 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. Equities research analysts anticipate 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 buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BRBR has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Evercore ISI decreased their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Barclays set a $75.00 price objective on BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Truist Financial decreased their target price on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Finally, Mizuho boosted their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

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.