BellRing Brands, Inc. (NYSE:BRBR) Insider Sells $239,814.96 in Stock

BellRing Brands, Inc. (NYSE:BRBR) insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

BellRing Brands Stock Up 2.4 %

BRBR traded up $1.80 on Wednesday, hitting $76.94. The company’s stock had a trading volume of 1,173,984 shares, compared to its average volume of 1,180,674. The company’s 50 day simple moving average is $73.61 and its 200-day simple moving average is $71.42. The firm has a market cap of $9.87 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. Equities analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a stock buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

BRBR has been the subject of several research analyst reports. Citigroup increased their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen lifted their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective for the company. Barclays increased 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, Stephens reaffirmed an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.13.

Institutional Investors Weigh In On BellRing Brands

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in BellRing Brands by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock worth $1,012,419,000 after purchasing an additional 135,105 shares during the period. Franklin Resources Inc. lifted its stake in BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock valued at $344,885,000 after buying an additional 96,991 shares during the period. Invesco Ltd. grew its holdings in shares of BellRing Brands by 35.7% in the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after acquiring an additional 1,121,691 shares in the last quarter. State Street Corp boosted its holdings in BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after purchasing an additional 50,339 shares during the period. Finally, Wellington Management Group LLP raised its holdings in BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after buying an additional 898,885 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.