Wellington Management Group LLP Purchases 898,885 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Wellington Management Group LLP grew its position in BellRing Brands, Inc. (NYSE:BRBR) by 32.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,655,607 shares of the company’s stock after buying an additional 898,885 shares during the period. Wellington Management Group LLP owned approximately 2.85% of BellRing Brands worth $275,413,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BRBR. Norges Bank acquired a new position in BellRing Brands in the fourth quarter valued at about $114,185,000. Holocene Advisors LP acquired a new position in shares of BellRing Brands in the 3rd quarter valued at approximately $69,998,000. Assenagon Asset Management S.A. increased its stake in BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock worth $74,781,000 after purchasing an additional 661,774 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in BellRing Brands by 21.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after buying an additional 457,796 shares during the period. Finally, Franklin Resources Inc. lifted its stake in BellRing Brands by 9.3% in the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after buying an additional 380,216 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BRBR shares. Citigroup increased their price objective 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. Morgan Stanley assumed coverage on BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Mizuho increased their price objective on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.13.

BellRing Brands Trading Up 0.9 %

Shares of BRBR opened at $75.17 on Wednesday. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.24 and a beta of 0.85. The company’s fifty day simple moving average is $73.61 and its 200 day simple moving average is $71.42. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

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, beating 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%. As a group, research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other BellRing Brands news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, the director now directly owns 1,166,691 shares in the company, valued at $87,851,832.30. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

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.