BellRing Brands, Inc. (NYSE:BRBR) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,018 shares of the company's stock after buying an additional 11,390 shares during the period. Ensign Peak Advisors Inc owned 0.07% of BellRing Brands worth $6,481,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC increased its stake in BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock worth $1,264,000 after buying an additional 10,117 shares during the period. Encompass More Asset Management purchased a new position in BellRing Brands in the 4th quarter worth about $549,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in BellRing Brands by 4.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock worth $6,223,000 after buying an additional 3,865 shares during the period. Truist Financial Corp increased its stake in BellRing Brands by 11.8% in the 4th quarter. Truist Financial Corp now owns 672,139 shares of the company's stock worth $50,639,000 after buying an additional 70,878 shares during the period. Finally, Ieq Capital LLC purchased a new position in BellRing Brands in the 4th quarter worth about $10,673,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on BRBR. UBS Group reduced their price target on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Stephens reissued an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Truist Financial cut their target price 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. Citigroup cut their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, 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 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, BellRing Brands currently has a consensus rating of "Moderate Buy" and an average target price of $77.00.

BellRing Brands Trading Up 2.6%

Shares of NYSE:BRBR traded up $1.68 during trading on Friday, reaching $65.95. The stock had a trading volume of 1,923,934 shares, compared to its average volume of 1,296,697. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market capitalization of $8.46 billion, a P/E ratio of 30.96, a PEG ratio of 2.24 and a beta of 0.86. The firm's 50-day simple moving average is $71.60 and its 200 day simple moving average is $73.44.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share 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 business had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same period last year, the business earned $0.45 EPS. The company's revenue was up 18.9% compared to the same quarter last year. Equities research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a share repurchase program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the completion of the sale, the director now directly owns 938,457 shares in the company, valued at $72,608,418.09. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the insider now owns 57,836 shares of the company's stock, valued at $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. Insiders sold 109,207 shares of company stock worth $8,253,616 in the last three months. Corporate insiders own 1.07% of the company's stock.

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.