Primecap Management Co. CA Buys 262,609 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Primecap Management Co. CA lifted its stake in BellRing Brands, Inc. (NYSE:BRBR) by 94.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 540,000 shares of the company’s stock after buying an additional 262,609 shares during the period. Primecap Management Co. CA owned approximately 0.42% of BellRing Brands worth $40,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BRBR. Atria Investments Inc raised its position in BellRing Brands by 10.0% during the third quarter. Atria Investments Inc now owns 10,227 shares of the company’s stock valued at $621,000 after purchasing an additional 927 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in BellRing Brands by 20.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,683 shares of the company’s stock valued at $284,000 after purchasing an additional 800 shares in the last quarter. KBC Group NV raised its position in BellRing Brands by 14.1% during the third quarter. KBC Group NV now owns 3,583 shares of the company’s stock valued at $218,000 after purchasing an additional 443 shares in the last quarter. Natixis Advisors LLC raised its position in BellRing Brands by 0.6% during the third quarter. Natixis Advisors LLC now owns 101,475 shares of the company’s stock valued at $6,162,000 after purchasing an additional 589 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in BellRing Brands by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 94,667 shares of the company’s stock valued at $5,749,000 after purchasing an additional 10,720 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BRBR. Stifel Nicolaus upped their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays upped their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Citigroup upped their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Truist Financial upped their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.79.

BellRing Brands Trading Down 1.2 %

Shares of BRBR opened at $68.38 on Wednesday. The stock has a market capitalization of $8.77 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The firm’s fifty day simple moving average is $73.54 and its two-hundred day simple moving average is $70.30. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month 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%. As a group, research analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has initiated a share buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at BellRing Brands

In other 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is currently 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.