EverSource Wealth Advisors LLC Has $69,000 Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

EverSource Wealth Advisors LLC boosted its position in BellRing Brands, Inc. (NYSE:BRBR) by 180.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 918 shares of the company’s stock after purchasing an additional 591 shares during the period. EverSource Wealth Advisors LLC’s holdings in BellRing Brands were worth $69,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in BellRing Brands in the 4th quarter valued at about $328,000. AGF Management Ltd. lifted its stake in BellRing Brands by 2.9% in the 4th quarter. AGF Management Ltd. now owns 103,006 shares of the company’s stock valued at $7,760,000 after purchasing an additional 2,913 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in BellRing Brands by 23.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the company’s stock valued at $753,000 after purchasing an additional 1,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BellRing Brands by 25.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,329 shares of the company’s stock valued at $2,662,000 after purchasing an additional 7,162 shares during the last quarter. Finally, Amundi acquired a new stake in BellRing Brands in the 4th quarter valued at about $5,094,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BRBR shares. Stifel Nicolaus raised their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. 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. 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 research report on Wednesday, November 20th. Mizuho raised their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, 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 research 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. Based on data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.79.

BellRing Brands Trading Up 2.7 %

Shares of BRBR opened at $70.25 on Thursday. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The firm’s 50 day moving average is $73.50 and its 200-day moving average is $70.30. The stock has a market capitalization of $9.01 billion, a PE ratio of 32.98, a P/E/G ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) 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%. Equities research analysts predict 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 initiated a share 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 repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the transaction, the director now directly 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 SEC, which is available through this link. Insiders have sold 218,636 shares of company stock valued at $16,677,550 over the last three months. 1.07% of the stock is owned by insiders.

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.