Associated Banc Corp Buys New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Associated Banc Corp purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,836 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SeaBridge Investment Advisors LLC boosted its holdings in shares of BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after acquiring an additional 142 shares during the period. Fifth Third Bancorp boosted its stake in 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. Argonautica Private Wealth Management Inc. grew its position in BellRing Brands by 3.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock worth $472,000 after purchasing an additional 185 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after purchasing an additional 188 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of BellRing Brands by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 4,048 shares of the company’s stock valued at $305,000 after buying an additional 211 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 1.8 %

BRBR stock opened at $67.44 on Monday. The firm has a 50 day moving average of $73.70 and a 200-day moving average of $70.12. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 31.66, a PEG 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.

BellRing Brands (NYSE:BRBR) last issued 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%. Sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

BRBR has been the topic of several recent research reports. Stephens restated an “equal weight” rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft upped their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. TD Cowen lifted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Barclays upped their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Truist Financial lifted their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.79.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 5,100 shares of BellRing Brands stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the completion of the transaction, the director now directly owns 1,166,691 shares in the company, valued at $87,851,832.30. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 218,636 shares of company stock valued at $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.