Raymond James Financial Inc. Buys New Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Inc. purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 243,639 shares of the company’s stock, valued at approximately $18,356,000. Raymond James Financial Inc. owned about 0.19% of BellRing Brands at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BRBR. Pallas Capital Advisors LLC raised its position in BellRing Brands by 152.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock valued at $1,264,000 after acquiring an additional 10,117 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of BellRing Brands in the 3rd quarter valued at $439,000. Encompass More Asset Management purchased a new stake in BellRing Brands during the fourth quarter worth $549,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of BellRing Brands by 4.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company’s stock worth $6,223,000 after acquiring an additional 3,865 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of BellRing Brands by 11.8% during the 4th quarter. Truist Financial Corp now owns 672,139 shares of the company’s stock valued at $50,639,000 after acquiring an additional 70,878 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

BRBR opened at $75.20 on Monday. The business’s 50 day moving average price is $72.55 and its 200 day moving average price is $72.72. The stock has a market capitalization of $9.65 billion, a PE ratio of 35.30, a P/E/G ratio of 2.24 and a beta of 0.78. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping 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 forecast 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 approved a share buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 $85,370,407.64. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,828 shares of company stock worth $16,917,365. Insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRBR. TD Cowen increased their price target on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Barclays lifted their price target 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. Citigroup increased 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. Mizuho upped their price target 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, Stephens reiterated an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

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.