BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,709,652 shares of the company's stock after acquiring an additional 724,337 shares during the quarter. Bank of America Corp DE owned about 1.33% of BellRing Brands worth $128,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after purchasing an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in BellRing Brands during the fourth quarter worth approximately $52,000. Aster Capital Management DIFC Ltd grew its position 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 buying an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in BellRing Brands by 180.7% in the fourth 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 last quarter. Finally, Fifth Third Bancorp lifted its position in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the transaction, the director now owns 938,457 shares of the company's stock, valued at $72,608,418.09. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was 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 of the company's stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,828 shares of company stock worth $16,917,365 over the last three months. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BRBR shares. Mizuho lifted their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Stephens reissued an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup reduced their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday. UBS Group dropped their target price on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price target on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.00.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $61.18 on Friday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86. The stock has a 50-day simple moving average of $72.00 and a 200-day simple moving average of $73.52. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company 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 company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, equities research analysts predict 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 allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

About BellRing Brands

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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