Raymond James Financial Inc. Acquires New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Inc. acquired a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 243,639 shares of the company’s stock, valued at approximately $18,356,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aigen Investment Management LP increased its holdings in BellRing Brands by 5.9% in the fourth quarter. Aigen Investment Management LP now owns 13,943 shares of the company’s stock valued at $1,050,000 after purchasing an additional 772 shares during the period. Proficio Capital Partners LLC acquired a new stake in BellRing Brands in the fourth quarter valued at $4,660,000. Atria Investments Inc increased its holdings in BellRing Brands by 21.6% in the fourth quarter. Atria Investments Inc now owns 12,439 shares of the company’s stock valued at $937,000 after purchasing an additional 2,212 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in BellRing Brands by 18.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,111 shares of the company’s stock valued at $159,000 after purchasing an additional 332 shares during the period. Finally, DJE Kapital AG acquired a new stake in BellRing Brands in the fourth quarter valued at $3,434,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BRBR shares. Mizuho increased their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays increased their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Stifel Nicolaus increased their price target on BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Evercore ISI increased their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Citigroup increased their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.79.

BellRing Brands Price Performance

BRBR stock opened at $69.25 on Tuesday. The stock has a market capitalization of $8.88 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The company’s 50-day moving average is $73.63 and its 200-day moving average is $70.22. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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, analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.