Raymond James Financial Inc. Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Inc. acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 243,639 shares of the company's stock, valued at approximately $18,356,000. Raymond James Financial Inc. owned approximately 0.19% of BellRing Brands at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after buying an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands during the fourth quarter worth approximately $52,000. Aster Capital Management DIFC Ltd grew its stake in 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 acquiring an additional 643 shares during the period. EverSource Wealth Advisors LLC raised its holdings in BellRing Brands by 180.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after acquiring an additional 591 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Trading Down 1.0 %

Shares of BRBR traded down $0.73 during midday trading on Friday, reaching $74.07. 191,273 shares of the company were exchanged, compared to its average volume of 1,207,712. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 34.69, a P/E/G ratio of 2.24 and a beta of 0.78. The stock has a 50-day moving average price of $72.34 and a 200-day moving average price of $72.91.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRBR. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Stephens reaffirmed an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup increased their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. UBS Group assumed coverage on shares of BellRing Brands in a report on Wednesday. They issued a "neutral" rating and a $81.00 target price for the company. Finally, TD Cowen increased their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $79.25.

Insider Transactions at BellRing Brands

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert V. Vitale sold 44,249 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. Corporate insiders own 1.07% of the company's stock.

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.