LMR Partners LLP Invests $17.33 Million in BellRing Brands, Inc. (NYSE:BRBR)

LMR Partners LLP acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 230,000 shares of the company's stock, valued at approximately $17,328,000. LMR Partners LLP owned approximately 0.18% of BellRing Brands at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BRBR. Vanguard Group Inc. grew its holdings in BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after buying an additional 135,105 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of BellRing Brands by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after purchasing an additional 96,991 shares in the last quarter. Invesco Ltd. lifted 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 buying an additional 1,121,691 shares during the period. Wellington Management Group LLP grew its stake in shares of BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after purchasing an additional 898,885 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in BellRing Brands by 32.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock valued at $174,866,000 after purchasing an additional 564,342 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. 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 on the stock. Citigroup reduced their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Barclays set a $75.00 price target on BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Stephens reiterated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and an average price target of $77.00.

BellRing Brands Stock Performance

BRBR traded up $0.71 during midday trading on Thursday, reaching $64.19. 1,238,555 shares of the company were exchanged, compared to its average volume of 1,293,399. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company's fifty day moving average price is $71.65 and its 200 day moving average price is $73.44. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same quarter last year, the company posted $0.45 earnings per share. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

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

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 44,249 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the transaction, the director now owns 938,457 shares in the company, valued at approximately $72,608,418.09. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were 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 in the company, valued at $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 valued at $14,345,014 in the last quarter. 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.