AQR Capital Management LLC Grows Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

AQR Capital Management LLC increased its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 284.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,278,508 shares of the company's stock after acquiring an additional 1,685,525 shares during the quarter. AQR Capital Management LLC owned about 1.77% of BellRing Brands worth $171,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRBR. Norges Bank bought a new position in BellRing Brands in the fourth quarter worth $114,185,000. Invesco Ltd. raised its holdings in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after purchasing an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP raised its holdings in BellRing Brands by 32.6% in the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after purchasing an additional 898,885 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in BellRing Brands by 200.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock worth $74,781,000 after purchasing an additional 661,774 shares in the last quarter. Finally, Axiom Investors LLC DE raised its holdings in BellRing Brands by 4,670.5% in the fourth quarter. Axiom Investors LLC DE now owns 434,113 shares of the company's stock worth $32,706,000 after purchasing an additional 425,013 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup raised their price target on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Mizuho raised their price target on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley initiated coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Barclays lifted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, UBS Group initiated coverage on BellRing Brands in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $81.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and an average price target of $79.25.

BellRing Brands Stock Down 0.1 %

BRBR stock opened at $75.08 on Tuesday. The business's 50-day moving average price is $72.24 and its 200-day moving average price is $73.23. The stock has a market cap of $9.63 billion, a P/E ratio of 35.25, a PEG ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect 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 approved a share repurchase program on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands 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 completion of the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert V. Vitale sold 44,249 shares of BellRing Brands 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 completion of the transaction, the director now directly owns 938,457 shares of the company's stock, valued at $72,608,418.09. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,828 shares of company stock valued at $16,917,365. 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.

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