BellRing Brands, Inc. (NYSE:BRBR) Position Cut by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,197 shares of the company’s stock after selling 181 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of BellRing Brands worth $8,754,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Braun Stacey Associates Inc. acquired a new position in BellRing Brands during the 3rd quarter valued at about $18,680,000. Charles Schwab Investment Management Inc. raised its holdings in shares of BellRing Brands by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after buying an additional 333,287 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of BellRing Brands by 152.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after buying an additional 10,117 shares during the period. Banco Santander S.A. bought a new position in BellRing Brands in the 3rd quarter worth approximately $672,000. Finally, Empowered Funds LLC increased its position in BellRing Brands by 151.4% in the 3rd quarter. Empowered Funds LLC now owns 69,844 shares of the company’s stock valued at $4,241,000 after acquiring an additional 42,059 shares during the period. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock opened at $67.36 on Wednesday. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm’s 50 day moving average price is $74.17 and its two-hundred day moving average price is $69.89. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued 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%. As a group, equities analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. DA Davidson reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Barclays increased their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.79.

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 5,100 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the transaction, the director now owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is owned by corporate insiders.

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.