Assetmark Inc. Sells 365 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Assetmark Inc. reduced its stake in BellRing Brands, Inc. (NYSE:BRBR) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,582 shares of the company’s stock after selling 365 shares during the period. Assetmark Inc.’s holdings in BellRing Brands were worth $119,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares during the period. UMB Bank n.a. raised 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 valued at $43,000 after purchasing an additional 234 shares in the last quarter. Truvestments Capital LLC purchased a new stake in BellRing Brands during the third quarter valued at about $44,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in BellRing Brands during the fourth quarter valued at about $52,000. Finally, Fifth Third Bancorp raised its position in BellRing Brands by 18.2% during the fourth 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. 94.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BRBR shares. Evercore ISI lifted their price objective on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Citigroup lifted their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Mizuho lifted their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Stephens reiterated 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 eleven have issued a buy rating to the company. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the 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 owns 1,166,691 shares of the company’s stock, valued at $87,851,832.30. This represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 218,636 shares of company stock valued at $16,677,550. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $67.44 on Friday. The firm has a fifty day moving average price of $73.70 and a 200 day moving average price of $69.92. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The stock has a market cap of $8.65 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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%. As a group, equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has initiated a share buyback 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 often an indication 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.