Meiji Yasuda Asset Management Co Ltd. Makes New Investment in BellRing Brands, Inc. (NYSE:BRBR)

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,180 shares of the company’s stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. Holocene Advisors LP bought a new stake in BellRing Brands during the 3rd quarter valued at approximately $69,998,000. Assenagon Asset Management S.A. grew its holdings 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 valued at $74,781,000 after buying an additional 661,774 shares in the last quarter. Wasatch Advisors LP raised its position in shares of BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after buying an additional 494,669 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of BellRing Brands by 21.5% in the third 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after acquiring an additional 380,216 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 0.2 %

BRBR stock opened at $74.16 on Friday. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The stock has a market cap of $9.51 billion, a PE ratio of 34.82, a P/E/G ratio of 2.24 and a beta of 0.85. The company has a 50-day moving average price of $73.58 and a 200 day moving average price of $71.01.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating 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%. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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

Wall Street Analysts Forecast Growth

BRBR has been the topic of several research analyst reports. Morgan Stanley started coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target on the stock. TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Stephens restated an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Citigroup upped their price objective on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.13.

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the transaction, the director now directly owns 818,180 shares in the company, valued at $59,776,230.80. This represents a 1.80 % decrease in their position. The sale was disclosed in a legal 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 over the last quarter. Company insiders own 1.07% of the company’s stock.

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.