HighTower Advisors LLC Decreases Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

HighTower Advisors LLC reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,800 shares of the company’s stock after selling 1,557 shares during the period. HighTower Advisors LLC’s holdings in BellRing Brands were worth $3,677,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of BellRing Brands by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock worth $76,949,000 after purchasing an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of BellRing Brands by 152.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after purchasing an additional 10,117 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of BellRing Brands during the 3rd quarter worth $672,000. State Street Corp lifted its position in shares of BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BellRing Brands during the 3rd quarter worth $439,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the completion of the transaction, the director now directly owns 818,180 shares of the company’s stock, valued at $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 218,636 shares of company stock valued at $16,677,550 over the last ninety days. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Stock Up 0.3 %

NYSE BRBR opened at $70.42 on Friday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm has a 50-day moving average price of $73.46 and a 200 day moving average price of $70.30.

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 the consensus estimate 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 expect 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 buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have issued reports on BRBR. TD Cowen upped their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Barclays upped their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup upped their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Stephens restated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $78.79.

About BellRing Brands

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.