Parr Mcknight Wealth Management Group LLC Purchases New Position in BellRing Brands, Inc. (NYSE:BRBR)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 18,569 shares of the company's stock, valued at approximately $1,399,000.

Other institutional investors have also modified their holdings of the company. Encompass More Asset Management purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $549,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of BellRing Brands by 4.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock worth $6,223,000 after acquiring an additional 3,865 shares in the last quarter. Truist Financial Corp boosted its stake in shares of BellRing Brands by 11.8% during the 4th quarter. Truist Financial Corp now owns 672,139 shares of the company's stock worth $50,639,000 after acquiring an additional 70,878 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $10,673,000. Finally, LMR Partners LLP purchased a new stake in BellRing Brands in the 4th quarter valued at approximately $17,328,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRBR. Stephens reaffirmed an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Mizuho upped their target price on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Tuesday. Morgan Stanley began 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. Finally, Evercore ISI reduced their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, BellRing Brands presently has an average rating of "Moderate Buy" and an average target price of $77.63.

BellRing Brands Stock Down 1.3%

Shares of BRBR stock traded down $0.81 on Tuesday, reaching $60.87. 3,131,318 shares of the stock were exchanged, compared to its average volume of 1,328,291. The stock has a market cap of $7.73 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The firm has a 50 day moving average of $70.97 and a two-hundred day moving average of $73.32. 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 released its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting analysts' consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities research analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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

BellRing Brands 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.