BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 142,704 shares of the company’s stock after buying an additional 6,139 shares during the quarter. Picton Mahoney Asset Management’s holdings in BellRing Brands were worth $10,752,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its holdings in shares of BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after buying an additional 234 shares during the period. Farther Finance Advisors LLC raised its holdings in BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands during the fourth quarter worth $52,000. Truvestments Capital LLC acquired a new position in BellRing Brands during the third quarter worth $44,000. Finally, EverSource Wealth Advisors LLC raised its holdings in BellRing Brands by 180.7% during 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 last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Up 1.8 %

Shares of NYSE:BRBR opened at $67.44 on Friday. The company has a market cap of $8.65 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The business has a fifty day simple moving average of $73.70 and a 200-day simple moving average of $69.92.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Sell-side analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has initiated a share buyback plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRBR. 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. Barclays lifted 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. Evercore ISI raised their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. DA Davidson reissued a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.79.

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.