BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,869 shares of the company’s stock after purchasing an additional 237 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in BellRing Brands were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in BellRing Brands by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after buying an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after acquiring an additional 10,117 shares during the last quarter. State Street Corp increased its holdings in BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in BellRing Brands in the third quarter valued at approximately $439,000. Finally, Encompass More Asset Management acquired a new position in BellRing Brands during the fourth quarter worth $549,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BRBR. Morgan Stanley started coverage on BellRing Brands in a research note on Monday. They issued an “overweight” rating and a $84.00 price objective for the company. Mizuho lifted their target price on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Citigroup lifted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Stephens reaffirmed an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.13.

Insider Buying and Selling

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 218,636 shares of company stock worth $16,677,550 in the last ninety days. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $73.97 on Friday. The business has a 50-day moving average of $73.54 and a two-hundred day moving average of $70.89. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 34.73, 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.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results 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 negative return on equity of 130.14% and a net margin of 13.32%. As a group, equities research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has initiated a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is 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.