London Co. of Virginia Reduces Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

London Co. of Virginia reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,323,750 shares of the company's stock after selling 7,471 shares during the quarter. London Co. of Virginia owned 1.03% of BellRing Brands worth $99,731,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. J. Goldman & Co LP acquired a new stake in shares of BellRing Brands in the fourth quarter valued at about $3,285,000. Ground Swell Capital LLC acquired a new stake in BellRing Brands in the 4th quarter worth about $231,000. Focus Partners Wealth increased its stake in BellRing Brands by 13.6% during the 4th quarter. Focus Partners Wealth now owns 98,609 shares of the company's stock worth $7,429,000 after buying an additional 11,821 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of BellRing Brands by 15.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 86,018 shares of the company's stock valued at $6,481,000 after acquiring an additional 11,390 shares during the last quarter. Finally, Ethic Inc. purchased a new position in shares of BellRing Brands in the fourth quarter valued at approximately $870,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group reduced their price objective on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley began coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price for the company. Truist Financial lowered their price target on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Evercore ISI lowered their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.00.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 79,068 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $77.04, for a total value of $6,091,398.72. Following the completion of the transaction, the director now owns 982,706 shares of the company's stock, valued at $75,707,670.24. This trade represents a 7.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,275 shares of company stock worth $14,345,014. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Price Performance

Shares of NYSE:BRBR traded up $0.71 during midday trading on Thursday, reaching $64.19. 1,238,555 shares of the company's stock were exchanged, compared to its average volume of 1,292,187. The firm's 50 day simple moving average is $71.65 and its two-hundred day simple moving average is $73.44. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the business posted $0.45 EPS. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

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

BellRing Brands Company 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.