BellRing Brands, Inc. (NYSE:BRBR) Shares Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC boosted its position in BellRing Brands, Inc. (NYSE:BRBR) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,501 shares of the company’s stock after acquiring an additional 188 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in BellRing Brands were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BRBR. Holocene Advisors LP purchased a new position in BellRing Brands in the third quarter valued at about $69,998,000. Assenagon Asset Management S.A. increased its holdings in BellRing Brands by 200.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock valued at $74,781,000 after buying an additional 661,774 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in BellRing Brands in the third quarter valued at about $30,699,000. Wasatch Advisors LP increased its holdings in BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after buying an additional 494,669 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in BellRing Brands by 21.5% in the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after buying an additional 457,796 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BRBR stock opened at $67.36 on Wednesday. The stock has a market capitalization of $8.64 billion, a P/E ratio of 31.63, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a 50 day moving average price of $74.17 and a two-hundred day moving average price of $69.89.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. Research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages have issued reports on BRBR. Stifel Nicolaus increased their target price 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. Mizuho increased their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup increased their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Barclays raised their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, DA Davidson reissued a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of BellRing Brands stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now owns 1,166,691 shares in the company, valued at $87,851,832.30. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 quarter. 1.07% of the stock is owned by insiders.

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.