Redwood Investment Management LLC Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Redwood Investment Management LLC acquired a new stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,820 shares of the company's stock, valued at approximately $1,418,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BRBR. UMB Bank n.a. lifted its stake in BellRing Brands by 69.4% in the fourth 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 stake in shares of BellRing Brands during the 4th quarter worth approximately $44,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of BellRing Brands during the 4th quarter worth approximately $52,000. Aster Capital Management DIFC Ltd lifted its position in shares of BellRing Brands by 747.7% during 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 lifted its position in shares of BellRing Brands by 180.7% during 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. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Buying and Selling at BellRing Brands

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

BellRing Brands Stock Performance

Shares of BRBR opened at $65.95 on Friday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.24 and a beta of 0.86. The company's fifty day moving average is $71.60 and its two-hundred day moving average is $73.44. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

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

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

Analyst Upgrades and Downgrades

BRBR has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Stephens restated an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Citigroup reduced their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley began coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $77.00.

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.

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