Mercer Global Advisors Inc. ADV Makes New $423,000 Investment in BellRing Brands, Inc. (NYSE:BRBR)

Mercer Global Advisors Inc. ADV bought a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,615 shares of the company's stock, valued at approximately $423,000.

Several other large investors also recently modified their holdings of the stock. SeaBridge Investment Advisors LLC lifted its position in shares of BellRing Brands by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after buying an additional 142 shares during the last quarter. Fifth Third Bancorp raised its stake in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares during the period. Dorsey Wright & Associates lifted its holdings in BellRing Brands by 0.3% during the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock valued at $3,799,000 after purchasing an additional 163 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its position in BellRing Brands by 3.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after purchasing an additional 185 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Down 2.3%

Shares of BRBR opened at $63.61 on Wednesday. The stock has a market capitalization of $8.16 billion, a P/E ratio of 29.86, a PEG ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The firm has a fifty day simple moving average of $71.76 and a two-hundred day simple moving average of $73.51.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. BellRing Brands's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a share repurchase program on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on BRBR. Truist Financial reduced their price objective on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Citigroup cut their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. UBS Group decreased their price target on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Stephens reiterated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, BellRing Brands currently has an average rating of "Moderate Buy" and an average price target of $77.00.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 79,068 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $77.04, for a total value of $6,091,398.72. Following the sale, the director now directly owns 982,706 shares of the company's stock, valued at $75,707,670.24. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company's stock, 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 have sold 188,275 shares of company stock worth $14,345,014 over the last 90 days. 1.07% of the stock is owned by company 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.

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