18,569 Shares in BellRing Brands, Inc. (NYSE:BRBR) Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC bought a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,569 shares of the company's stock, valued at approximately $1,399,000.

A number of other institutional investors also recently made changes to their positions in the stock. SeaBridge Investment Advisors LLC raised its holdings 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 position in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares during the period. Dorsey Wright & Associates grew its position in BellRing Brands by 0.3% during the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock valued at $3,799,000 after acquiring an additional 163 shares during the period. Argonautica Private Wealth Management Inc. grew its position in BellRing Brands by 3.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock valued at $472,000 after acquiring an additional 185 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position 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 buying an additional 188 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded up $1.17 on Thursday, reaching $61.54. 748,581 shares of the company were exchanged, compared to its average volume of 1,332,134. The company's 50-day moving average is $70.58 and its two-hundred day moving average is $73.14. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted 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 negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same period last year, the firm earned $0.45 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. 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 of Directors has initiated a stock buyback program on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. 1.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

BRBR has been the subject of a number of analyst reports. Stephens reissued an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Tuesday. Morgan Stanley assumed coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target for the company. Mizuho reduced their target price on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Truist Financial reduced their target price on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, BellRing Brands has an average rating of "Moderate Buy" and a consensus target price of $77.00.

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.