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

Lazard Asset Management LLC raised its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 361.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,673 shares of the company's stock after buying an additional 5,227 shares during the period. Lazard Asset Management LLC's holdings in BellRing Brands were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new position in BellRing Brands in the fourth quarter valued at about $17,328,000. J. Goldman & Co LP purchased a new position in BellRing Brands in the fourth quarter valued at about $3,285,000. Ground Swell Capital LLC purchased a new position in BellRing Brands in the fourth quarter valued at about $231,000. Focus Partners Wealth increased its holdings in BellRing Brands by 13.6% in the fourth quarter. Focus Partners Wealth now owns 98,609 shares of the company's stock valued at $7,429,000 after buying an additional 11,821 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in BellRing Brands by 15.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 86,018 shares of the company's stock valued at $6,481,000 after buying an additional 11,390 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays set a $75.00 target price on shares of BellRing Brands and gave the company an "overweight" rating in a report on Wednesday, May 7th. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday. Evercore ISI lowered their price target on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. 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. Finally, Stephens reiterated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $77.63.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Price Performance

BRBR stock traded down $0.81 during midday trading on Tuesday, hitting $60.87. The stock had a trading volume of 3,131,318 shares, compared to its average volume of 1,328,291. The firm has a market cap of $7.73 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company's 50-day moving average price is $70.78 and its 200 day moving average price is $73.23.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $588.00 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has authorized a share 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 buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

About BellRing Brands

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.