Concurrent Investment Advisors LLC Buys New Shares in BellRing Brands, Inc. (NYSE:BRBR)

Concurrent Investment Advisors LLC purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after buying an additional 474 shares during the period. UMB Bank n.a. increased its stake in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after acquiring an additional 234 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of BellRing Brands in the 3rd quarter worth about $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of BellRing Brands in the 4th quarter valued at about $52,000. Finally, Fifth Third Bancorp grew its holdings in shares of BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock worth $75,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Transactions 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. Insiders sold 203,636 shares of company stock valued at $15,581,650 over the last three months. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BRBR has been the topic of several research reports. Citigroup raised their price target on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group upped their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Evercore ISI raised their price objective on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, TD Cowen boosted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.87.

BellRing Brands Stock Performance

Shares of NYSE:BRBR opened at $72.26 on Wednesday. The company has a market capitalization of $9.27 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a fifty day moving average of $75.41 and a 200-day moving average of $68.83. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

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.