Ethic Inc. Invests $870,000 in BellRing Brands, Inc. (NYSE:BRBR)

Ethic Inc. purchased a new stake in BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,554 shares of the company’s stock, valued at approximately $870,000.

Several other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of BellRing Brands by 284.2% during the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after acquiring an additional 1,685,525 shares during the period. Norges Bank bought a new stake in BellRing Brands during the fourth quarter worth about $114,185,000. Invesco Ltd. grew its stake in BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP grew its stake in BellRing Brands by 32.6% during the fourth 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 in the last quarter. Finally, Bank of America Corp DE raised its position in shares of BellRing Brands by 73.5% in the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company’s stock valued at $128,805,000 after buying an additional 724,337 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRBR has been the topic of several analyst reports. Citigroup reduced their price target on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Barclays set a $75.00 target price on BellRing Brands and gave the company an “overweight” rating in a report on Wednesday, May 7th. Evercore ISI lowered their price target on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Truist Financial reduced their price objective on BellRing Brands from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Finally, Mizuho boosted their target price on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 44,249 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the transaction, the director now owns 938,457 shares in the company, valued at $72,608,418.09. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value 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. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,275 shares of company stock worth $14,345,014 over the last ninety days. 1.07% of the stock is owned by insiders.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $63.51 on Thursday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm has a market cap of $8.15 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The firm’s fifty day moving average is $71.65 and its 200-day moving average is $73.44.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

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.