Assetmark Inc. Reduces Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Assetmark Inc. trimmed its stake in BellRing Brands, Inc. (NYSE:BRBR) by 18.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,582 shares of the company’s stock after selling 365 shares during the period. Assetmark Inc.’s holdings in BellRing Brands were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Holocene Advisors LP purchased a new position in BellRing Brands during the 3rd quarter worth $69,998,000. Assenagon Asset Management S.A. grew its position in BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock worth $74,781,000 after purchasing an additional 661,774 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in BellRing Brands during the 3rd quarter worth $30,699,000. Wasatch Advisors LP grew its position in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in BellRing Brands by 21.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after purchasing an additional 457,796 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BRBR. 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 research report on Wednesday, November 20th. Bank of America lifted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barclays lifted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. 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. Finally, TD Cowen lifted their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.79.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the sale, the director now owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 over the last 90 days. Insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 1.8 %

BRBR stock opened at $67.44 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The firm has a market capitalization of $8.65 billion, a PE ratio of 31.66, a P/E/G ratio of 2.24 and a beta of 0.85. The firm has a 50-day moving average of $73.70 and a two-hundred day moving average of $69.92.

BellRing Brands (NYSE:BRBR) last posted 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has approved a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

BellRing Brands Company 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.