BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,388 shares of the company's stock after purchasing an additional 10,652 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.13% of BellRing Brands worth $12,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BRBR. AQR Capital Management LLC grew its holdings in shares of BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after purchasing an additional 1,685,525 shares during the last quarter. Norges Bank bought a new position in shares of BellRing Brands in the fourth quarter worth approximately $114,185,000. Invesco Ltd. boosted its holdings in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after acquiring an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP boosted its holdings in BellRing Brands by 32.6% in the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock valued at $275,413,000 after acquiring an additional 898,885 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in BellRing Brands by 73.5% in the fourth quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock valued at $128,805,000 after acquiring an additional 724,337 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

Shares of BRBR traded up $1.04 during mid-day trading on Friday, hitting $62.75. 1,015,874 shares of the stock were exchanged, compared to its average volume of 1,340,336. The company has a market cap of $7.97 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a 50-day moving average of $70.34 and a two-hundred day moving average of $73.08.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same period in the prior year, the firm earned $0.45 EPS. The company's revenue for the quarter was up 18.9% on a year-over-year basis. On average, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 6th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stephens reiterated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. UBS Group cut their price target on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Truist Financial lowered their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Mizuho lowered their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $77.00.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the 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 transaction, the insider now owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

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.