BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Focus Partners Wealth

Focus Partners Wealth raised its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,609 shares of the company's stock after buying an additional 11,821 shares during the period. Focus Partners Wealth owned about 0.08% of BellRing Brands worth $7,429,000 as of its most recent SEC filing.

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

BellRing Brands Stock Up 2.6%

BellRing Brands stock traded up $1.68 during midday trading on Friday, reaching $65.95. The stock had a trading volume of 1,923,934 shares, compared to its average volume of 1,296,697. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company has a fifty day moving average of $71.60 and a 200 day moving average of $73.44.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Equities research 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 buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 15,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now directly owns 818,180 shares of the company's stock, valued at approximately $59,776,230.80. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred 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 directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,207 shares of company stock valued at $8,253,616. 1.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BRBR shares. Stephens reaffirmed an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Truist Financial dropped their target price on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Citigroup dropped their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Mizuho upped their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, UBS Group dropped 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $77.00.

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.