BellRing Brands, Inc. (NYSE:BRBR) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC grew its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 361.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,673 shares of the company's stock after purchasing an additional 5,227 shares during the quarter. Lazard Asset Management LLC's holdings in BellRing Brands were worth $502,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in BellRing Brands by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after buying an additional 135,105 shares during the period. Franklin Resources Inc. boosted its position in BellRing Brands by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock valued at $344,885,000 after acquiring an additional 96,991 shares in the last quarter. Invesco Ltd. increased its holdings in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after acquiring an additional 1,121,691 shares during the period. Wellington Management Group LLP raised its position in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after acquiring an additional 898,885 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of BellRing Brands by 32.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after acquiring an additional 564,342 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Citigroup lowered their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Mizuho lifted their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, BellRing Brands presently has a consensus rating of "Moderate Buy" and an average price target of $77.63.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands 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 completion of the transaction, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Stock Down 0.0%

Shares of NYSE:BRBR traded down $0.03 during trading on Tuesday, hitting $61.65. The stock had a trading volume of 419,825 shares, compared to its average volume of 1,317,611. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a 50-day simple moving average of $70.97 and a two-hundred day simple moving average of $73.32.

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

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