Vestcor Inc Sells 71,100 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Vestcor Inc lowered its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 50.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 69,500 shares of the company’s stock after selling 71,100 shares during the period. Vestcor Inc’s holdings in BellRing Brands were worth $5,236,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after purchasing an additional 591 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in BellRing Brands in the fourth quarter worth $328,000. AGF Management Ltd. grew its holdings in BellRing Brands by 2.9% in the fourth quarter. AGF Management Ltd. now owns 103,006 shares of the company’s stock worth $7,760,000 after purchasing an additional 2,913 shares during the period. Daiwa Securities Group Inc. grew its holdings in BellRing Brands by 23.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the company’s stock worth $753,000 after purchasing an additional 1,900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BellRing Brands by 25.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,329 shares of the company’s stock worth $2,662,000 after purchasing an additional 7,162 shares during the period. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Down 2.8 %

NYSE:BRBR opened at $66.21 on Friday. The company has a fifty day moving average of $73.85 and a 200 day moving average of $69.85. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm has a market capitalization of $8.49 billion, a P/E ratio of 31.08, a P/E/G ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS 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%. As a group, analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Barclays lifted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Stifel Nicolaus lifted their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America lifted their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.79.

Insiders Place Their Bets

In related news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the completion of the transaction, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is currently owned by corporate insiders.

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.