BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Zacks Investment Management

Zacks Investment Management decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,647 shares of the company's stock after selling 4,548 shares during the quarter. Zacks Investment Management owned 0.05% of BellRing Brands worth $4,946,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in BellRing Brands during the 4th quarter valued at approximately $114,185,000. Invesco Ltd. boosted its position in BellRing Brands by 35.7% in the 4th 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 grew its stake 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. Assenagon Asset Management S.A. increased its holdings in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock valued at $74,781,000 after purchasing an additional 661,774 shares in the last quarter. Finally, Axiom Investors LLC DE boosted its holdings in BellRing Brands by 4,670.5% during the fourth quarter. Axiom Investors LLC DE now owns 434,113 shares of the company's stock worth $32,706,000 after buying an additional 425,013 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on BRBR shares. Citigroup lifted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. UBS Group began coverage on BellRing Brands in a report on Wednesday. They issued a "neutral" rating and a $81.00 price objective on the stock. TD Cowen upped their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Mizuho lifted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Morgan Stanley started coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.25.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert V. Vitale sold 44,249 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $72,608,418.09. The trade was a 4.50 % decrease in their position. 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 quarter. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded down $1.00 during trading on Wednesday, hitting $74.35. 404,871 shares of the company were exchanged, compared to its average volume of 1,205,530. The company has a fifty day moving average price of $72.43 and a 200-day moving average price of $72.81. The firm has a market capitalization of $9.54 billion, a PE ratio of 34.91, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. Research analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated 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 repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.