Axiom Investors LLC DE Increases Position in BellRing Brands, Inc. (NYSE:BRBR)

Axiom Investors LLC DE grew its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 4,670.5% during the fourth quarter, HoldingsChannel reports. The firm owned 434,113 shares of the company’s stock after acquiring an additional 425,013 shares during the period. Axiom Investors LLC DE’s holdings in BellRing Brands were worth $32,706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. lifted its position in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after buying an additional 234 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of BellRing Brands in the fourth quarter valued at about $52,000. EverSource Wealth Advisors LLC increased its position in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after purchasing an additional 591 shares during the last quarter. Fifth Third Bancorp raised its stake in BellRing Brands by 18.2% during 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. Finally, Blue Trust Inc. grew its stake in shares of BellRing Brands by 160.5% in the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock valued at $79,000 after buying an additional 647 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on BRBR shares. Barclays lifted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley assumed coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target for the company. Citigroup boosted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Mizuho increased their target price 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. Finally, Stephens restated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 44,249 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 938,457 shares in the company, valued at $72,608,418.09. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 218,636 shares of company stock valued at $16,677,550 in the last ninety days. Insiders own 1.07% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR opened at $74.16 on Monday. The stock has a 50-day simple moving average of $73.58 and a 200-day simple moving average of $71.19. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The stock has a market capitalization of $9.51 billion, a PE ratio of 34.82, 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 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%. Analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has initiated a share 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

BellRing Brands 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.