Voya Investment Management LLC Sells 85,218 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Voya Investment Management LLC lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 29.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,884 shares of the company's stock after selling 85,218 shares during the quarter. Voya Investment Management LLC owned about 0.16% of BellRing Brands worth $15,059,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of BellRing Brands in the 4th quarter worth approximately $114,185,000. Invesco Ltd. raised its position in BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after acquiring an additional 1,121,691 shares during the period. Wellington Management Group LLP boosted 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 worth $275,413,000 after acquiring an additional 898,885 shares during the last quarter. Assenagon Asset Management S.A. boosted 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 worth $74,781,000 after acquiring an additional 661,774 shares during the last quarter. Finally, Axiom Investors LLC DE grew its position in shares of BellRing Brands by 4,670.5% during the 4th quarter. Axiom Investors LLC DE now owns 434,113 shares of the company's stock valued at $32,706,000 after acquiring an additional 425,013 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 2.4 %

NYSE BRBR traded up $1.88 during trading on Friday, hitting $78.85. 1,570,247 shares of the stock traded hands, compared to its average volume of 1,218,147. The company has a market capitalization of $10.12 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm has a 50-day simple moving average of $72.59 and a 200-day simple moving average of $73.52.

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

BellRing Brands declared that its Board of Directors has approved a share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert V. Vitale sold 5,100 shares of BellRing Brands stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BRBR. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. UBS Group began coverage on BellRing Brands in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $81.00 price objective on the stock. Barclays increased their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Stephens reaffirmed an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Finally, Mizuho increased their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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.