Amundi Buys New Shares in BellRing Brands, Inc. (NYSE:BRBR)

Amundi purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 70,284 shares of the company’s stock, valued at approximately $5,094,000. Amundi owned 0.05% of BellRing Brands as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BRBR. Assetmark Inc. raised its position in shares of BellRing Brands by 53.9% in the 3rd quarter. Assetmark Inc. now owns 1,947 shares of the company’s stock worth $118,000 after buying an additional 682 shares during the period. Atria Investments Inc raised its holdings in shares of BellRing Brands by 10.0% in the 3rd quarter. Atria Investments Inc now owns 10,227 shares of the company’s stock worth $621,000 after purchasing an additional 927 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of BellRing Brands by 5.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,746 shares of the company’s stock worth $531,000 after purchasing an additional 429 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of BellRing Brands by 20.6% in the 3rd 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. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of BellRing Brands by 17.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 49,090 shares of the company’s stock worth $2,981,000 after purchasing an additional 7,388 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Up 1.8 %

Shares of BRBR opened at $67.44 on Friday. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.24 and a beta of 0.85. The business’s 50 day moving average is $73.70 and its two-hundred day moving average is $70.02.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has authorized a stock repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 218,636 shares of company stock worth $16,677,550. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRBR. DA Davidson reaffirmed a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, November 19th. Stephens restated an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. 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 research report on Wednesday, November 20th. Barclays raised their price objective on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Mizuho upped their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.79.

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.