Fifth Third Wealth Advisors LLC Acquires 419 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Fifth Third Wealth Advisors LLC increased its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,088 shares of the company’s stock after purchasing an additional 419 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in BellRing Brands were worth $379,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BRBR. Janney Montgomery Scott LLC bought a new stake in BellRing Brands in the fourth quarter worth $1,064,000. Blue Trust Inc. increased its position in BellRing Brands by 274.7% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $114,000 after purchasing an additional 1,107 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in BellRing Brands in the fourth quarter worth $388,000. One Wealth Advisors LLC bought a new stake in BellRing Brands in the fourth quarter worth $284,000. Finally, E. Ohman J or Asset Management AB increased its position in BellRing Brands by 5.6% in the fourth quarter. E. Ohman J or Asset Management AB now owns 534,616 shares of the company’s stock worth $40,278,000 after purchasing an additional 28,143 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $62.91, for a total value of $100,656.00. Following the completion of the sale, the chief executive officer now directly owns 208,378 shares of the company’s stock, valued at $13,109,059.98. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares of the company’s stock, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BRBR shares. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Stephens reiterated an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Citigroup cut their price objective 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. Morgan Stanley started coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective on the stock. Finally, Mizuho cut their price objective on shares of BellRing Brands from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

BellRing Brands Trading Up 0.4%

Shares of BRBR opened at $63.26 on Wednesday. The firm has a market capitalization of $8.03 billion, a P/E ratio of 29.70, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The firm has a fifty day moving average price of $69.69 and a 200-day moving average price of $72.89.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts predict 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 shares. This repurchase authorization allows the company to repurchase 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 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.