BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lessened its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 88.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,904 shares of the company's stock after selling 126,243 shares during the quarter. Thornburg Investment Management Inc.'s holdings in BellRing Brands were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BRBR. UMB Bank n.a. grew its holdings in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after purchasing an additional 234 shares during the last quarter. Colonial Trust Co SC bought a new stake in BellRing Brands in the 4th quarter worth $44,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in BellRing Brands in the 4th quarter worth $52,000. Aster Capital Management DIFC Ltd increased its position in shares of BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after acquiring an additional 643 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after acquiring an additional 591 shares during the period. 94.97% of the stock is owned by institutional investors.

BellRing Brands Price Performance

Shares of BRBR traded down $1.54 during trading hours on Thursday, hitting $60.60. The stock had a trading volume of 2,198,218 shares, compared to its average volume of 1,314,832. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The firm has a market capitalization of $7.70 billion, a PE ratio of 28.45, a PEG ratio of 2.24 and a beta of 0.86. The stock has a fifty day moving average price of $71.45 and a 200 day moving average price of $73.40.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.53 EPS 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 during the quarter, compared to analysts' expectations of $577.56 million. During the same period in the prior year, the company earned $0.45 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has approved a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's 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 sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price on the stock. Barclays set a $75.00 target price on BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Citigroup dropped their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Stephens reissued an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Finally, UBS Group decreased their target price on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $77.63.

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.