Canada Pension Plan Investment Board Lowers Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Canada Pension Plan Investment Board reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,000 shares of the company's stock after selling 98,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of BellRing Brands worth $10,774,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after purchasing an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands during the 4th quarter valued at about $52,000. Aster Capital Management DIFC Ltd raised its holdings in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after purchasing an additional 643 shares during the period. EverSource Wealth Advisors LLC boosted its position in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after purchasing an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after purchasing an additional 153 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Trading Up 0.5 %

BRBR traded up $0.37 on Friday, hitting $75.17. The company had a trading volume of 873,203 shares, compared to its average volume of 1,212,498. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm has a market cap of $9.64 billion, a P/E ratio of 35.29, a PEG ratio of 2.24 and a beta of 0.78. The company's fifty day moving average price is $72.29 and its 200 day moving average price is $73.00.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS 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%. On average, analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of BellRing Brands 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 completion of the sale, the director now directly owns 1,166,691 shares of the company's stock, valued at $87,851,832.30. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock valued at $16,917,365 in the last 90 days. Company insiders own 1.07% of the company's stock.

Analyst Ratings Changes

BRBR has been the topic of a number of recent analyst reports. Barclays increased their target price on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Citigroup lifted their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target for the company. TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Stephens reissued an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $79.25.

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.