BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Sciencast Management LP

Sciencast Management LP raised its stake in BellRing Brands, Inc. (NYSE:BRBR) by 103.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,928 shares of the company’s stock after acquiring an additional 9,620 shares during the quarter. Sciencast Management LP’s holdings in BellRing Brands were worth $1,426,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of BellRing Brands by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock worth $76,949,000 after acquiring an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of BellRing Brands by 152.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after acquiring an additional 10,117 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of BellRing Brands in the third quarter worth $672,000. State Street Corp raised its holdings in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after acquiring an additional 50,339 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of BellRing Brands in the third quarter worth $439,000. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $70.66 on Friday. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The business has a 50-day moving average of $73.45 and a 200-day moving average of $70.51. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its 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 negative return on equity of 130.14% and a net margin of 13.32%. Research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a stock buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 218,636 shares of company stock valued at $16,677,550 over the last quarter. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several analyst reports. Barclays upped their target price on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Citigroup upped their target price on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. TD Cowen upped their target price on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Mizuho upped 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. Finally, Stephens reiterated an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.79.

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.