Pinebridge Investments L.P. Purchases 44,396 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Pinebridge Investments L.P. boosted its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 195.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,084 shares of the company's stock after buying an additional 44,396 shares during the period. Pinebridge Investments L.P. owned 0.05% of BellRing Brands worth $5,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in 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 position in shares of BellRing Brands in the 4th quarter valued at $52,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of BellRing Brands by 747.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after acquiring an additional 643 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after purchasing an additional 591 shares during the period. Finally, Fifth Third Bancorp increased its holdings in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after purchasing an additional 153 shares in 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 related news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now owns 1,110,004 shares of the company's stock, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was 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 of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,828 shares of company stock valued at $16,917,365 in the last ninety days. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BRBR shares. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price for the company. UBS Group assumed coverage on shares of BellRing Brands in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $81.00 target price for the company. TD Cowen lifted their price target 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. Mizuho upped their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Stephens reaffirmed an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

BellRing Brands Trading Down 0.8 %

BellRing Brands stock traded down $0.60 on Wednesday, reaching $76.13. 346,058 shares of the stock were exchanged, compared to its average volume of 1,210,687. The stock has a market cap of $9.77 billion, a PE ratio of 35.74, a PEG ratio of 2.24 and a beta of 0.78. The firm has a fifty day moving average price of $72.30 and a two-hundred day moving average price of $73.25. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Equities analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

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.