KLP Kapitalforvaltning AS Buys New Stake in BellRing Brands, Inc. (NYSE:BRBR)

KLP Kapitalforvaltning AS bought a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, HoldingsChannel reports. The fund bought 30,458 shares of the company’s stock, valued at approximately $2,295,000.

Several other hedge funds also recently bought and sold shares of BRBR. Charles Schwab Investment Management Inc. raised its position 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 valued at $76,949,000 after buying an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock valued at $1,264,000 after acquiring an additional 10,117 shares during the last quarter. State Street Corp raised its holdings in BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after acquiring an additional 50,339 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of BellRing Brands during the 3rd quarter worth $439,000. Finally, Encompass More Asset Management acquired a new stake in shares of BellRing Brands during the fourth quarter worth $549,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.37, for a total transaction of $3,423,545.13. Following the sale, the director now directly owns 938,457 shares of the company’s stock, valued at approximately $72,608,418.09. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Corporate insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on BellRing Brands in a research report on Monday. They set an “overweight” rating and a $84.00 target price on the stock. Stephens reiterated an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Mizuho boosted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup increased their price target 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. Finally, TD Cowen lifted their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.13.

BellRing Brands Price Performance

NYSE:BRBR opened at $73.97 on Friday. The business’s 50-day moving average is $73.54 and its two-hundred day moving average is $70.89. The firm has a market capitalization of $9.49 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS 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%. Equities analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.