76,266 Shares in BellRing Brands, Inc. (NYSE:BRBR) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 76,266 shares of the company's stock, valued at approximately $5,746,000. Freestone Grove Partners LP owned about 0.06% of BellRing Brands at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after buying an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in BellRing Brands in the fourth quarter valued at approximately $52,000. Aster Capital Management DIFC Ltd raised its holdings in BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after purchasing an additional 643 shares during the period. EverSource Wealth Advisors LLC raised its stake in BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after buying an additional 591 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Price Performance

NYSE:BRBR traded down $0.74 during trading hours on Wednesday, hitting $62.82. The company's stock had a trading volume of 6,166,854 shares, compared to its average volume of 1,268,490. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The stock has a fifty day simple moving average of $72.60 and a 200-day simple moving average of $73.59. The company has a market capitalization of $8.06 billion, a P/E ratio of 29.49, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The firm's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities 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 approved a share buyback plan 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 plans are typically a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 28,453 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock valued at $16,917,365 in the last ninety days. 1.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

BRBR has been the topic of several research reports. Stephens reaffirmed an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. UBS Group cut their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research note on Wednesday. TD Cowen upped their price target 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. Citigroup reduced their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.25.

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.