BellRing Brands, Inc. (NYSE:BRBR) Stake Lowered by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. decreased its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450,322 shares of the company's stock after selling 318,532 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.90% of BellRing Brands worth $184,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BRBR. Norges Bank acquired a new stake in BellRing Brands during the 4th quarter worth about $114,185,000. Invesco Ltd. raised its stake in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after buying an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of 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 buying an additional 898,885 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock valued at $74,781,000 after buying an additional 661,774 shares during the last quarter. Finally, Axiom Investors LLC DE increased its stake in shares of BellRing Brands by 4,670.5% in the 4th quarter. Axiom Investors LLC DE now owns 434,113 shares of the company's stock valued at $32,706,000 after purchasing an additional 425,013 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BRBR shares. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. TD Cowen upped their price target on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Stephens restated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Barclays increased their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Citigroup raised their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.25.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the transaction, the director now owns 1,166,691 shares of the company's stock, valued at $87,851,832.30. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 221,828 shares of company stock worth $16,917,365 over the last 90 days. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

NYSE BRBR traded up $0.71 on Tuesday, reaching $75.75. The stock had a trading volume of 268,794 shares, compared to its average volume of 1,210,355. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The business's 50-day moving average price is $72.24 and its 200 day moving average price is $73.23. The stock has a market cap of $9.72 billion, a P/E ratio of 35.55, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

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

BellRing Brands declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management 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.