Legacy Capital Group California Inc. Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Legacy Capital Group California Inc. purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,781 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRBR. UMB Bank n.a. boosted its position in shares of BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after acquiring an additional 234 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after acquiring an additional 474 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of BellRing Brands in the 4th quarter valued at $52,000. Truvestments Capital LLC bought a new stake in BellRing Brands during the third quarter valued at $44,000. Finally, Fifth Third Bancorp grew its stake in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BRBR shares. TD Cowen boosted their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. 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. Truist Financial increased their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Bank of America raised their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $77.87.

Insider Transactions at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the company’s 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 transaction, the director now owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 203,636 shares of company stock valued at $15,581,650 over the last ninety days. Insiders own 1.07% of the company’s stock.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $72.99 on Friday. The business has a 50-day simple moving average of $75.61 and a two-hundred day simple moving average of $68.36. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The company has a market cap of $9.36 billion, a PE ratio of 34.27, a P/E/G ratio of 2.34 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released 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 negative return on equity of 130.14% and a net margin of 13.32%. On average, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

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.