BellRing Brands (NYSE:BRBR) Now Covered by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of BellRing Brands (NYSE:BRBR) in a research note published on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $84.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Citigroup upped their price objective on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Stephens restated an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Mizuho lifted their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays increased their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, TD Cowen lifted their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and a consensus target price of $79.13.

BellRing Brands Trading Up 4.2 %

BRBR stock opened at $73.59 on Monday. The firm has a 50 day simple moving average of $73.49 and a 200-day simple moving average of $70.73. The company has a market capitalization of $9.44 billion, a P/E ratio of 34.55, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands has a twelve month low of $48.06 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, research analysts predict that BellRing Brands will post 2.23 EPS for the current year.

BellRing Brands declared that its Board of Directors has approved a share 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 purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now owns 818,180 shares of the company’s stock, valued at $59,776,230.80. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 218,636 shares of company stock worth $16,677,550 in the last 90 days. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

Several hedge funds have recently modified their holdings of BRBR. Vanguard Group Inc. boosted its stake in BellRing Brands by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock valued at $1,012,419,000 after buying an additional 135,105 shares in the last quarter. Wasatch Advisors LP lifted its holdings in BellRing Brands by 8.0% in the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of BellRing Brands by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock valued at $344,885,000 after purchasing an additional 96,991 shares in the last quarter. Invesco Ltd. grew its stake in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after purchasing an additional 1,121,691 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Company 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.