Cetera Investment Advisers Buys 2,736 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Cetera Investment Advisers boosted its stake in BellRing Brands, Inc. (NYSE:BRBR) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,418 shares of the company’s stock after purchasing an additional 2,736 shares during the period. Cetera Investment Advisers’ holdings in BellRing Brands were worth $1,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands in the 4th quarter valued at approximately $52,000. Aster Capital Management DIFC Ltd increased its position in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock valued at $55,000 after acquiring an additional 643 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after buying an additional 591 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of 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. Institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRBR. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. DA Davidson set a $85.00 price objective on shares of BellRing Brands in a research report on Thursday, May 15th. Mizuho increased 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. Citigroup cut their target price on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Evercore ISI cut their target price on shares of BellRing Brands from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.63.

BellRing Brands Price Performance

BRBR opened at $65.32 on Wednesday. The company’s 50-day moving average is $71.55 and its 200 day moving average is $73.48. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The firm has a market capitalization of $8.30 billion, a P/E ratio of 30.67, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period last year, the firm earned $0.45 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has authorized a share buyback program on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares of the company’s stock, valued at $59,776,230.80. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,958 shares of company stock worth $4,830,070 over the last quarter. Corporate insiders own 1.07% of the company’s stock.

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.