Sanctuary Advisors LLC Boosts Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Sanctuary Advisors LLC lifted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 16.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,413 shares of the company’s stock after purchasing an additional 1,185 shares during the period. Sanctuary Advisors LLC’s holdings in BellRing Brands were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BRBR. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of BellRing Brands during the third quarter worth about $228,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of BellRing Brands during the third quarter worth about $422,000. State of Alaska Department of Revenue boosted its holdings in shares of BellRing Brands by 5.7% during the third quarter. State of Alaska Department of Revenue now owns 15,003 shares of the company’s stock worth $910,000 after purchasing an additional 805 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of BellRing Brands during the third quarter worth about $433,000. Finally, Oak Ridge Investments LLC boosted its holdings in shares of BellRing Brands by 2.6% during the third quarter. Oak Ridge Investments LLC now owns 126,836 shares of the company’s stock worth $7,701,000 after purchasing an additional 3,224 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BRBR. Citigroup increased their target price 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. Barclays raised their price objective 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. Truist Financial raised their price objective 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. TD Cowen raised their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.87.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $73.36 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The company has a 50 day simple moving average of $75.13 and a two-hundred day simple moving average of $68.99. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share 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%. On average, analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 218,636 shares of company stock valued at $16,677,550 over the last 90 days. Corporate insiders own 1.07% of the company’s stock.

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.