Point72 Hong Kong Ltd Decreases Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Point72 Hong Kong Ltd lessened its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 70.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,089 shares of the company's stock after selling 11,935 shares during the period. Point72 Hong Kong Ltd's holdings in BellRing Brands were worth $383,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRBR. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,685,525 shares in the last quarter. Norges Bank acquired a new stake in shares of BellRing Brands in the fourth quarter worth $114,185,000. Invesco Ltd. increased its position 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 acquiring an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP grew its holdings in BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock valued at $275,413,000 after purchasing an additional 898,885 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock worth $128,805,000 after acquiring an additional 724,337 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BRBR. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup reduced their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI cut their price objective on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. DA Davidson set a $85.00 price objective on shares of BellRing Brands in a research report on Thursday, May 15th. Finally, UBS Group lowered their target price on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research note 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, BellRing Brands has an average rating of "Moderate Buy" and an average price target of $77.63.

Insiders Place Their Bets

In other news, 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 value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Director Robert V. Vitale sold 15,000 shares of the business's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Down 1.9%

BellRing Brands stock traded down $1.16 on Thursday, hitting $60.98. The company's stock had a trading volume of 483,103 shares, compared to its average volume of 1,308,149. The company has a fifty day moving average price of $71.45 and a 200-day moving average price of $73.40. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The firm has a market cap of $7.74 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 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 firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue was up 18.9% on a year-over-year basis. Analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has authorized a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

BellRing Brands Company 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.