Intech Investment Management LLC Buys 123,218 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Intech Investment Management LLC grew its stake in BellRing Brands, Inc. (NYSE:BRBR) by 193.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,972 shares of the company’s stock after purchasing an additional 123,218 shares during the quarter. Intech Investment Management LLC owned approximately 0.15% of BellRing Brands worth $14,086,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BRBR. Holocene Advisors LP bought a new position in shares of BellRing Brands in the third quarter valued at about $69,998,000. Assenagon Asset Management S.A. increased its position in BellRing Brands by 200.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock worth $74,781,000 after acquiring an additional 661,774 shares during the period. Champlain Investment Partners LLC bought a new position in BellRing Brands during the third quarter worth about $30,699,000. Wasatch Advisors LP increased its position in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after acquiring an additional 494,669 shares during the period. Finally, Point72 Asset Management L.P. increased its position in BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after acquiring an additional 457,796 shares during the period. 94.97% of the stock is owned by institutional investors.

BellRing Brands Trading Up 2.6 %

BRBR opened at $69.25 on Tuesday. The company’s 50 day moving average is $73.63 and its 200-day moving average is $70.22. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The company has a market cap of $8.88 billion, a P/E ratio of 32.51, a PEG ratio of 2.24 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. On average, equities analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

Insider Buying and Selling

In related news, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now directly owns 818,180 shares in the company, valued at $59,776,230.80. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 in the last ninety days. Company insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRBR. Deutsche Bank Aktiengesellschaft raised 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. Stephens reissued an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. 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 report on Wednesday, January 8th. Mizuho raised their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Evercore ISI raised their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $78.79.

BellRing Brands 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.