BellRing Brands, Inc. (NYSE:BRBR) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 24.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 703,632 shares of the company’s stock after purchasing an additional 139,322 shares during the period. American Century Companies Inc.’s holdings in BellRing Brands were worth $53,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in BellRing Brands by 69.4% during the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after purchasing an additional 234 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands in the 3rd quarter worth $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the fourth quarter valued at $52,000. EverSource Wealth Advisors LLC boosted its stake in BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock valued at $69,000 after buying an additional 591 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after acquiring an additional 153 shares during the period. Institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now directly owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 218,636 shares of company stock valued at $16,677,550. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 0.6 %

Shares of BRBR stock opened at $73.94 on Thursday. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67. The stock’s fifty day simple moving average is $73.53 and its 200-day simple moving average is $70.87.

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

BellRing Brands declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays upped their price target 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. Mizuho increased their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup lifted their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. 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. Finally, TD Cowen lifted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

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.