Thornburg Investment Management Inc. Has $1.20 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Thornburg Investment Management Inc. decreased its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 88.8% during the fourth quarter, according to the company in its most recent disclosure 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 SEC filing.

A number of other institutional investors also recently modified their holdings of the company. SeaBridge Investment Advisors LLC grew its stake in shares of BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock worth $1,337,000 after acquiring an additional 142 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after acquiring an additional 153 shares during the last quarter. Dorsey Wright & Associates grew its stake in shares of BellRing Brands by 0.3% in the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after acquiring an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of BellRing Brands by 3.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after acquiring an additional 185 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE:BRBR traded up $1.16 on Friday, hitting $61.79. The stock had a trading volume of 1,619,090 shares, compared to its average volume of 1,321,050. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The firm's 50 day moving average price is $71.14 and its 200-day moving average price is $73.35. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

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

BellRing Brands declared that its board has initiated a share repurchase plan on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now owns 818,180 shares of the company's stock, valued at $59,776,230.80. This represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the 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 sale, the insider now directly owns 57,836 shares in the company, valued at approximately $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 Analyst Weigh In

Several equities research analysts have recently issued reports on BRBR shares. UBS Group lowered their price objective 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. Evercore ISI decreased 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 note on Wednesday, May 7th. Mizuho lifted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, DA Davidson set a $85.00 price target on shares of BellRing Brands in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, BellRing Brands currently has an average rating of "Moderate Buy" and a consensus target price of $77.63.

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.