Proficio Capital Partners LLC Buys New Shares in BellRing Brands, Inc. (NYSE:BRBR)

Proficio Capital Partners LLC purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) during the 4th quarter, Holdings Channel reports. The firm purchased 61,854 shares of the company’s stock, valued at approximately $4,660,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Holocene Advisors LP bought a new stake in shares of BellRing Brands in the third quarter valued at about $69,998,000. Assenagon Asset Management S.A. increased 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 valued at $74,781,000 after acquiring an additional 661,774 shares during the period. Champlain Investment Partners LLC acquired a new position in BellRing Brands in the 3rd quarter valued at approximately $30,699,000. Wasatch Advisors LP lifted its position in shares of BellRing Brands by 8.0% in the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after acquiring an additional 494,669 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of 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 in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Trading Up 2.6 %

NYSE:BRBR opened at $69.25 on Tuesday. The stock has a market capitalization of $8.88 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm has a 50 day moving average of $73.63 and a 200-day moving average of $70.22.

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

BellRing Brands declared that its board has initiated a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore ISI upped their target price on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial increased their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. TD Cowen increased their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Buying and Selling

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

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.