Raymond James Financial Inc. Makes New $18.36 Million Investment in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Inc. 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 and Exchange Commission (SEC). The fund purchased 243,639 shares of the company’s stock, valued at approximately $18,356,000. Raymond James Financial Inc. owned about 0.19% of BellRing Brands as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRBR. UMB Bank n.a. increased 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 during the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands during the third quarter worth approximately $44,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of BellRing Brands during the fourth quarter worth approximately $52,000. Fifth Third Bancorp boosted its holdings in shares of 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 acquiring an additional 153 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of BellRing Brands by 160.5% during the fourth quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock worth $79,000 after acquiring an additional 647 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BRBR shares. DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Barclays boosted their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. TD Cowen boosted their price target on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Stephens reiterated an “equal weight” rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, Mizuho boosted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $78.79.

BellRing Brands Price Performance

NYSE BRBR opened at $69.25 on Tuesday. The business has a fifty day moving average price of $73.63 and a two-hundred day moving average price of $70.22. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock has a market capitalization of $8.88 billion, a PE ratio of 32.51, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released 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%. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 218,636 shares of company stock worth $16,677,550 over the last three months. Insiders own 1.07% of the company’s stock.

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.