Caxton Associates LP Purchases New Position in BellRing Brands, Inc. (NYSE:BRBR)

Caxton Associates LP acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,698 shares of the company’s stock, valued at approximately $1,785,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BRBR. AQR Capital Management LLC boosted its position in BellRing Brands by 284.2% during the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after purchasing an additional 1,685,525 shares in the last quarter. Norges Bank purchased a new stake in shares of BellRing Brands during the fourth quarter valued at about $114,185,000. Invesco Ltd. boosted its holdings in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP grew its position in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock worth $275,413,000 after buying an additional 898,885 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company’s stock worth $128,805,000 after acquiring an additional 724,337 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.30, for a total value of $384,030.00. Following the transaction, the director now owns 1,166,691 shares in the company, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now directly owns 57,836 shares of the company’s stock, valued at $4,345,218.68. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Cowen raised their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Barclays boosted their target price on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Mizuho increased their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup boosted their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley began coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $79.25.

BellRing Brands Trading Down 0.7 %

Shares of BRBR opened at $78.38 on Tuesday. The firm has a market cap of $10.05 billion, a P/E ratio of 36.80, a PEG ratio of 2.24 and a beta of 0.86. The stock’s 50 day moving average is $72.73 and its two-hundred day moving average is $73.66. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. BellRing Brands’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has approved a stock repurchase plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are 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.