43,597 Shares in BellRing Brands, Inc. (NYSE:BRBR) Purchased by J. Goldman & Co LP

J. Goldman & Co LP acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 43,597 shares of the company's stock, valued at approximately $3,285,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock valued at $171,663,000 after acquiring an additional 1,685,525 shares during the last quarter. Norges Bank acquired a new stake in shares of BellRing Brands in the fourth quarter worth $114,185,000. Invesco Ltd. lifted its stake in shares of BellRing Brands by 35.7% in the fourth 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 last quarter. Wellington Management Group LLP lifted its stake in shares of BellRing Brands by 32.6% in the fourth 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 last quarter. Finally, Bank of America Corp DE lifted its stake in shares of 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 worth $128,805,000 after buying an additional 724,337 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

NYSE:BRBR traded up $0.71 during trading hours on Thursday, hitting $64.19. The stock had a trading volume of 1,238,555 shares, compared to its average volume of 1,292,187. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 2.24 and a beta of 0.86. The business's 50 day moving average is $71.65 and its 200-day moving average is $73.44.

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. The firm had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has initiated a share repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

BRBR has been the subject of several research analyst reports. Citigroup cut their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. 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. Morgan Stanley started coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target on the stock. UBS Group lowered 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. Finally, Evercore ISI lowered their price target on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $77.00.

Insider Activity

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the sale, the director now owns 818,180 shares in the company, valued at $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 is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's 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 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 disclosure for this sale can be found here. Insiders sold 188,275 shares of company stock worth $14,345,014 over the last quarter. 1.07% of the stock is currently owned by company insiders.

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.