Envestnet Asset Management Inc. Has $19.46 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Envestnet Asset Management Inc. lifted its stake in BellRing Brands, Inc. (NYSE:BRBR) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,302 shares of the company’s stock after buying an additional 45,136 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of BellRing Brands worth $19,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BRBR. Norges Bank bought a new stake in shares of BellRing Brands during the 4th quarter valued at $114,185,000. Wellington Management Group LLP lifted its position in BellRing Brands by 32.6% during the fourth quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after purchasing an additional 898,885 shares during the period. Assenagon Asset Management S.A. grew its stake in BellRing Brands by 200.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock worth $74,781,000 after buying an additional 661,774 shares in the last quarter. Axiom Investors LLC DE increased its holdings in BellRing Brands by 4,670.5% in the 4th quarter. Axiom Investors LLC DE now owns 434,113 shares of the company’s stock valued at $32,706,000 after buying an additional 425,013 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after buying an additional 380,216 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective 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. Stephens reissued an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Citigroup raised their price objective on BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays boosted their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Mizuho raised their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.13.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the completion of the sale, the director now directly owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is currently owned by insiders.

BellRing Brands Stock Down 0.7 %

Shares of BellRing Brands stock opened at $75.08 on Tuesday. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company’s fifty day moving average is $72.67 and its 200 day moving average is $72.33.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has initiated a share 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 repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.