AGF Management Ltd. Has $7.76 Million Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

AGF Management Ltd. boosted its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,006 shares of the company’s stock after acquiring an additional 2,913 shares during the quarter. AGF Management Ltd.’s holdings in BellRing Brands were worth $7,760,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its holdings in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after acquiring an additional 494,669 shares during the last quarter. Franklin Resources Inc. grew its holdings in BellRing Brands by 9.3% during the 3rd 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. State Street Corp grew its holdings in BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after acquiring an additional 50,339 shares during the last quarter. Wellington Management Group LLP grew its holdings in BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after acquiring an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. grew 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 acquiring an additional 457,796 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI upped their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. TD Cowen upped their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Truist Financial upped their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.79.

BellRing Brands Stock Up 1.1 %

Shares of NYSE BRBR opened at $68.01 on Thursday. The firm has a market cap of $8.72 billion, a PE ratio of 31.93, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company’s fifty day simple moving average is $74.02 and its 200 day simple moving average is $69.87.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, topping 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%. On average, equities analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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

Insiders Place Their Bets

In other BellRing Brands news, Director Robert V. Vitale sold 28,453 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the transaction, the director now owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 218,636 shares of company stock worth $16,677,550. Insiders own 1.07% of the company’s stock.

BellRing Brands Company 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.