BellRing Brands, Inc. (NYSE:BRBR) Holdings Decreased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. cut its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,887 shares of the company’s stock after selling 628 shares during the quarter. Summit Investment Advisors Inc.’s holdings in BellRing Brands were worth $1,950,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after purchasing an additional 234 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands during the fourth quarter worth about $52,000. Aster Capital Management DIFC Ltd lifted its holdings in BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after acquiring an additional 643 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 591 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert V. Vitale sold 15,000 shares of the company’s 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 sale, the director now directly owns 818,180 shares of the company’s stock, valued at approximately $59,776,230.80. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,828 shares of company stock worth $16,917,365 in the last ninety days. 1.07% of the stock is currently owned by corporate insiders.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $75.52 on Wednesday. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The business’s fifty day moving average is $72.63 and its 200-day moving average is $72.36. The stock has a market cap of $9.69 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) 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%. Equities research analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has authorized a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of analyst reports. Stephens restated an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. 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 report on Thursday, February 6th. 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 research report on Wednesday, January 29th. 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. Finally, Morgan Stanley assumed coverage on BellRing Brands in a report on Monday, March 24th. They set an “overweight” rating and a $84.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.