Voleon Capital Management LP Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Voleon Capital Management LP purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 57,251 shares of the company's stock, valued at approximately $4,313,000.

Several other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in BellRing Brands by 69.4% during the 4th 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 period. E Fund Management Hong Kong Co. Ltd. bought a new position in BellRing Brands during the fourth quarter worth about $52,000. Aster Capital Management DIFC Ltd grew 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 period. EverSource Wealth Advisors LLC increased its stake in shares of 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 raised its position in shares of BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock valued at $75,000 after acquiring an additional 153 shares during the period. Institutional investors own 94.97% of the company's stock.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now directly owns 1,110,004 shares of the company's stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands 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 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 disclosure for this sale can be found here. Insiders have sold a total of 221,828 shares of company stock valued at $16,917,365 in the last ninety days. 1.07% of the stock is currently owned by corporate insiders.

BellRing Brands Stock Performance

BRBR traded up $1.88 during trading hours on Friday, reaching $78.85. The company's stock had a trading volume of 1,570,247 shares, compared to its average volume of 1,216,231. The firm has a market cap of $10.12 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The company's 50-day moving average is $72.59 and its 200-day moving average is $73.46. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BRBR shares. UBS Group started coverage on shares of BellRing Brands in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $81.00 price target on the stock. Stephens reiterated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Citigroup raised their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. TD Cowen boosted their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.25.

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.