Private Advisor Group LLC Makes New $228,000 Investment in BellRing Brands, Inc. (NYSE:BRBR)

Private Advisor Group LLC purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,029 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after acquiring an additional 474 shares during the period. UMB Bank n.a. increased its holdings in shares of BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after buying an additional 234 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of BellRing Brands during the 3rd quarter worth $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands during the 4th quarter worth $52,000. Finally, Fifth Third Bancorp increased its holdings in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 6.0 %

Shares of NYSE:BRBR opened at $68.24 on Friday. The firm has a market capitalization of $8.75 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The firm has a fifty day moving average of $74.67 and a two-hundred day moving average of $69.44. 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 earnings per share for the quarter, beating 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%. Equities research analysts expect 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 stock repurchase plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. The trade was a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 218,636 shares of company stock worth $16,677,550 in the last quarter. 1.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BRBR has been the subject of a number of analyst reports. DA Davidson reissued a “neutral” rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, November 19th. TD Cowen increased their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Mizuho raised their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Truist Financial raised their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Finally, Bank of America raised their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.87.

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.