BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 155.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,594 shares of the company's stock after buying an additional 8,278 shares during the quarter. Hsbc Holdings PLC's holdings in BellRing Brands were worth $1,031,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after purchasing an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of BellRing Brands during the fourth quarter worth about $52,000. Aster Capital Management DIFC Ltd raised its position in shares of BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after buying an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after buying an additional 591 shares during the period. Finally, Fifth Third Bancorp boosted its position 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 acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRBR. UBS Group began coverage on BellRing Brands in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $81.00 price target on the stock. Barclays upped their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. TD Cowen raised their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Finally, Citigroup increased their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. 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 currently has an average rating of "Moderate Buy" and an average target price of $79.25.

BellRing Brands Stock Up 2.4 %

Shares of BRBR stock opened at $78.85 on Friday. The stock has a 50 day moving average of $72.59 and a 200-day moving average of $73.52. The firm has a market cap of $10.12 billion, a PE ratio of 37.02, a price-to-earnings-growth 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 announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has authorized a stock buyback program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is 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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