New Age Alpha Advisors LLC Purchases Shares of 76,413 BellRing Brands, Inc. (NYSE:BRBR)

New Age Alpha Advisors LLC acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,413 shares of the company’s stock, valued at approximately $5,757,000. New Age Alpha Advisors LLC owned 0.06% of BellRing Brands at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. increased its stake in 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 last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the fourth quarter valued at about $52,000. 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 acquiring an additional 591 shares in the last quarter. Fifth Third Bancorp boosted its position in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after purchasing an additional 153 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in BellRing Brands by 160.5% in the fourth quarter. Blue Trust Inc. now owns 1,050 shares of the company’s stock valued at $79,000 after purchasing an additional 647 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

BRBR stock opened at $74.16 on Friday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The company has a market capitalization of $9.51 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $71.01.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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 year.

BellRing Brands announced that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is 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 on 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 sale, the director now directly owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 218,636 shares of company stock valued at $16,677,550 in the last three months. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen increased 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 increased their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

BellRing Brands 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.