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

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in shares of BellRing Brands by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 6,046 shares of the company's stock valued at $456,000 after purchasing an additional 412 shares in the last quarter. Quantinno Capital Management LP purchased a new position in BellRing Brands in the fourth quarter valued at approximately $250,000. Nomura Holdings Inc. acquired a new position in BellRing Brands during the fourth quarter valued at approximately $1,292,000. Numerai GP LLC purchased a new stake in BellRing Brands during the fourth quarter worth approximately $2,488,000. Finally, Lazard Asset Management LLC grew its stake in BellRing Brands by 361.5% during the fourth quarter. Lazard Asset Management LLC now owns 6,673 shares of the company's stock worth $502,000 after buying an additional 5,227 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Trading Down 2.2%

BRBR stock traded down $1.38 during mid-day trading on Thursday, hitting $60.76. 529,149 shares of the company were exchanged, compared to its average volume of 1,308,575. The firm has a fifty day simple moving average of $71.45 and a 200 day simple moving average of $73.40. The company has a market capitalization of $7.72 billion, a PE ratio of 28.57, a price-to-earnings-growth 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.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business 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%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. As a group, sell-side 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 authorized a share repurchase plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Douglas J. Cornille sold 3,192 shares of the company'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 sale, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction 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 represents a 1.80% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays set a $75.00 target price on shares of BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Citigroup reduced their price objective on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Mizuho increased their target price on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. UBS Group reduced 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 reaffirmed an "equal weight" rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.63.

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.