Northern Trust Corp Has $84.04 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Northern Trust Corp grew its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 27.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,115,457 shares of the company's stock after acquiring an additional 239,961 shares during the quarter. Northern Trust Corp owned about 0.87% of BellRing Brands worth $84,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRBR. SeaBridge Investment Advisors LLC lifted its holdings in shares of BellRing Brands by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after acquiring an additional 142 shares during the last quarter. Fifth Third Bancorp boosted its stake in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after buying an additional 153 shares during the period. Dorsey Wright & Associates raised its stake in shares of BellRing Brands by 0.3% in the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock valued at $3,799,000 after acquiring an additional 163 shares during the period. Argonautica Private Wealth Management Inc. raised its stake in shares of BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after acquiring an additional 185 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its stake in shares of BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after purchasing an additional 188 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

Shares of BRBR traded down $0.74 during trading hours on Wednesday, hitting $62.82. The stock had a trading volume of 6,221,222 shares, 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 company's fifty day simple moving average is $72.39 and its 200 day simple moving average is $73.52. The firm has a market cap of $8.06 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts predict 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 approved a share buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, the director now owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred 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 transaction, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,828 shares of company stock worth $16,917,365. Insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRBR. Barclays set a $75.00 target price on BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday. TD Cowen upped their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Evercore ISI lowered their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday. Morgan Stanley assumed coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price for the company. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.63.

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.