BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 21.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 110,599 shares of the company’s stock after purchasing an additional 19,222 shares during the quarter. Teacher Retirement System of Texas’ holdings in BellRing Brands were worth $8,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP increased its position in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares during the last quarter. Franklin Resources Inc. grew its stake in BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after buying an additional 380,216 shares during the period. State Street Corp grew its stake in BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after buying an additional 50,339 shares during the period. Wellington Management Group LLP grew its stake in BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after buying an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after buying an additional 457,796 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective 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. Barclays boosted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Mizuho boosted 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. TD Cowen upped their target price 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. Finally, Stephens restated 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average target price of $78.79.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction on 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 directly owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

BRBR opened at $70.66 on Friday. The stock has a market capitalization of $9.06 billion, a PE ratio of 33.17, a P/E/G ratio of 2.24 and a beta of 0.85. The firm’s fifty day moving average price is $73.45 and its 200 day moving average price is $70.51. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a share buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About BellRing Brands

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.