BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,854 shares of the company's stock after buying an additional 7,460 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.26% of BellRing Brands worth $25,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BRBR. Pallas Capital Advisors LLC lifted its stake in BellRing Brands by 152.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock valued at $1,264,000 after buying an additional 10,117 shares during the last quarter. Encompass More Asset Management acquired a new position in BellRing Brands during the 4th quarter valued at about $549,000. Harel Insurance Investments & Financial Services Ltd. grew its position in BellRing Brands by 4.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock worth $6,223,000 after purchasing an additional 3,865 shares during the last quarter. Truist Financial Corp increased its stake in shares of BellRing Brands by 11.8% in the fourth quarter. Truist Financial Corp now owns 672,139 shares of the company's stock valued at $50,639,000 after purchasing an additional 70,878 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of BellRing Brands during the fourth quarter valued at approximately $10,673,000. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Down 0.7 %

Shares of BellRing Brands stock opened at $78.38 on Tuesday. 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 price of $72.73 and a two-hundred day moving average price of $73.66. The stock has a market capitalization of $10.05 billion, a P/E ratio of 36.80, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued 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 company's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on BRBR shares. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Barclays lifted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Stephens restated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and an average target price of $79.25.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the transaction, the director now owns 1,166,691 shares of the company's stock, valued at $87,851,832.30. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were 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 in the company, valued at approximately $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. In the last quarter, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is owned by corporate insiders.

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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