BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 15.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,254,417 shares of the company's stock after selling 233,129 shares during the period. Balyasny Asset Management L.P. owned approximately 0.97% of BellRing Brands worth $94,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in BellRing Brands by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock worth $1,012,419,000 after acquiring an additional 135,105 shares during the last quarter. Franklin Resources Inc. boosted its stake in BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after buying an additional 96,991 shares during the period. Invesco Ltd. raised its stake in shares of 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 acquiring an additional 1,121,691 shares during the period. Wellington Management Group LLP boosted its position in shares of BellRing Brands by 32.6% during the 4th 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 during the period. Finally, AQR Capital Management LLC raised its position in BellRing Brands by 284.2% in 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 during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Activity

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total transaction of $384,030.00. Following the completion of the transaction, the director now directly owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock worth $16,917,365 over the last 90 days. 1.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BRBR shares. Mizuho increased 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. Citigroup reduced their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday. Stephens reiterated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday. Finally, TD Cowen boosted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.63.

BellRing Brands Stock Down 1.2 %

NYSE BRBR traded down $0.74 during trading hours on Wednesday, hitting $62.82. 6,221,222 shares of the stock were exchanged, compared to its average volume of 1,263,839. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The stock has a 50-day moving average of $72.60 and a 200 day moving average of $73.59. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the previous year, the company earned $0.45 EPS. The company's quarterly revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has authorized a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.