BellRing Brands (NYSE:BRBR) Declares Share Repurchase Program

BellRing Brands (NYSE:BRBR) declared that its board has authorized a share repurchase plan on Thursday, March 6th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BRBR has been the topic of several research reports. Bank of America lifted their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Citigroup lifted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays lifted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Truist Financial lifted their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.87.

BellRing Brands Trading Down 6.0 %

Shares of NYSE:BRBR opened at $68.24 on Friday. BellRing Brands has a 12 month low of $48.06 and a 12 month high of $80.67. The stock has a market cap of $8.75 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.24 and a beta of 0.85. The company has a 50 day moving average of $74.67 and a 200 day moving average of $69.44.

BellRing Brands (NYSE:BRBR) last announced its 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 analysts forecast that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the sale, the director now directly owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. The trade was a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 218,636 shares of company stock worth $16,677,550 over the last three months. 1.07% of the stock is owned by insiders.

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.