Franklin Resources Inc. Boosts Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Franklin Resources Inc. grew its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,577,708 shares of the company’s stock after purchasing an additional 96,991 shares during the period. Franklin Resources Inc.’s holdings in BellRing Brands were worth $344,885,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of BellRing Brands in the fourth quarter valued at $52,000. EverSource Wealth Advisors LLC grew its position in shares of BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 591 shares in the last quarter. Fifth Third Bancorp lifted its holdings in BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in BellRing Brands by 160.5% in the 4th quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock worth $79,000 after purchasing an additional 647 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 0.3 %

Shares of NYSE BRBR opened at $74.39 on Tuesday. The stock’s 50-day moving average is $73.62 and its 200 day moving average is $71.30. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

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

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 818,180 shares in the company, valued at $59,776,230.80. This represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 in the last 90 days. 1.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BRBR. Stephens reiterated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Morgan Stanley began coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 target price on the stock. Barclays boosted their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. TD Cowen increased their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.13.

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.