BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,728 shares of the company’s stock after selling 9,610 shares during the quarter. Summit Global Investments’ holdings in BellRing Brands were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. SeaBridge Investment Advisors LLC increased its stake in shares of BellRing Brands by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock worth $1,337,000 after acquiring an additional 142 shares during the period. Fifth Third Bancorp grew its position in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after buying an additional 153 shares during the period. Argonautica Private Wealth Management Inc. grew its position in BellRing Brands by 3.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after buying an additional 185 shares during the period. Ashton Thomas Private Wealth LLC grew its position in BellRing Brands by 5.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock worth $264,000 after buying an additional 188 shares during the period. Finally, CIBC Asset Management Inc grew its position in BellRing Brands by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 4,048 shares of the company’s stock worth $305,000 after buying an additional 211 shares during the period. 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 28,453 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the transaction, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR opened at $70.66 on Friday. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.24 and a beta of 0.85. The company’s 50 day simple moving average is $73.45 and its 200 day simple moving average is $70.51. 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 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 net margin of 13.32% and a negative return on equity of 130.14%. Equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has approved a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Stephens restated an “equal weight” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, February 4th. TD Cowen upped their target price 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. Mizuho upped their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays upped their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.79.

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.