Wasatch Advisors LP Cuts Position in BellRing Brands, Inc. (NYSE:BRBR)

Wasatch Advisors LP cut its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,902,796 shares of the company's stock after selling 798,503 shares during the quarter. BellRing Brands comprises approximately 2.2% of Wasatch Advisors LP's portfolio, making the stock its 8th biggest holding. Wasatch Advisors LP owned approximately 4.58% of BellRing Brands worth $444,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRBR. UMB Bank n.a. increased its holdings in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after buying an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of BellRing Brands in the 4th quarter worth about $52,000. Aster Capital Management DIFC Ltd raised its stake in shares of BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after acquiring an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in BellRing Brands by 180.7% in the fourth 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 holdings in BellRing Brands by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares of the company's stock, valued at $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. Insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BRBR. TD Cowen increased their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Barclays raised their price target 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 reiterated an "equal weight" rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Finally, Citigroup increased their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.13.

BellRing Brands Stock Down 2.6 %

BRBR traded down $1.99 on Monday, hitting $73.13. 140,806 shares of the company traded hands, compared to its average volume of 1,205,379. The stock has a market capitalization of $9.38 billion, a PE ratio of 34.33, a PEG 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 company has a 50 day moving average of $72.55 and a 200-day moving average of $72.72.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its board has approved a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually 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.