Man Group plc Cuts Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Man Group plc reduced its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 460,347 shares of the company's stock after selling 508,193 shares during the quarter. Man Group plc owned about 0.36% of BellRing Brands worth $34,683,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BRBR. UMB Bank n.a. boosted its holdings in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after acquiring an additional 234 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of BellRing Brands in the 4th quarter worth about $44,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands in the 4th quarter worth about $52,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after buying an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after buying an additional 591 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 1.1%

Shares of NYSE BRBR traded up $0.72 during mid-day trading on Monday, reaching $66.61. 2,087,024 shares of the company were exchanged, compared to its average volume of 1,300,852. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 31.27, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm has a 50-day moving average of $71.60 and a 200 day moving average of $73.54.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The company had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. During the same period last year, the business posted $0.45 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. On average, equities analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has initiated a stock buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI cut their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley assumed coverage on BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Stephens reissued an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, Mizuho increased their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.63.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert V. Vitale sold 46,766 shares of BellRing Brands stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $74.72, for a total value of $3,494,355.52. Following the transaction, the director now owns 848,180 shares in the company, valued at approximately $63,376,009.60. The trade was a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,207 shares of company stock worth $8,253,616 over the last three months. 1.07% of the stock is currently owned by 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.