California Public Employees Retirement System Trims Stake in BellRing Brands, Inc. (NYSE:BRBR)

California Public Employees Retirement System lessened its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,218 shares of the company’s stock after selling 12,622 shares during the quarter. California Public Employees Retirement System owned about 0.17% of BellRing Brands worth $16,742,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BRBR. Dorsey Wright & Associates grew its position in shares of BellRing Brands by 0.3% during the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company’s stock worth $3,799,000 after acquiring an additional 163 shares during the last quarter. Premier Fund Managers Ltd grew its position in BellRing Brands by 8.8% during the 4th quarter. Premier Fund Managers Ltd now owns 14,954 shares of the company’s stock worth $1,130,000 after purchasing an additional 1,209 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in BellRing Brands by 9.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,246 shares of the company’s stock valued at $1,450,000 after purchasing an additional 1,657 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of BellRing Brands in the fourth quarter valued at about $5,757,000. Finally, Norges Bank acquired a new stake in shares of BellRing Brands during the fourth quarter worth about $114,185,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 15,000 shares of the firm’s 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 owns 818,180 shares in the company, valued at approximately $59,776,230.80. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now owns 57,836 shares of the company’s stock, valued at $4,345,218.68. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,828 shares of company stock valued at $16,917,365. 1.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley began coverage on BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective for the company. Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup lifted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. TD Cowen increased their price target on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Barclays lifted their price objective on BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.13.

BellRing Brands Stock Down 5.4 %

NYSE:BRBR opened at $69.83 on Friday. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The stock has a fifty day simple moving average of $73.44 and a 200-day simple moving average of $71.55. The company has a market capitalization of $8.96 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

BellRing Brands (NYSE:BRBR) last announced its quarterly 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, equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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

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.