Bank of Montreal Can Increases Stock Position in BellRing Brands Inc. $BRBR

Bank of Montreal Can raised its stake in shares of BellRing Brands Inc. (NYSE:BRBR) by 491.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,665 shares of the company’s stock after acquiring an additional 132,680 shares during the period. Bank of Montreal Can’s holdings in BellRing Brands were worth $9,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock worth $30,000 after purchasing an additional 190 shares during the period. Maseco LLP acquired a new position in BellRing Brands during the second quarter worth $25,000. Smartleaf Asset Management LLC boosted its position in shares of BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after buying an additional 310 shares during the period. Larson Financial Group LLC grew its stake in shares of BellRing Brands by 2,660.0% in the first quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $51,000 after buying an additional 665 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of BellRing Brands by 287.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $65,000 after buying an additional 649 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BellRing Brands

In related news, Director Shawn Conway purchased 1,316 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $49,999.99 per share, for a total transaction of $65,799,986.84. Following the completion of the purchase, the director directly owned 8,001 shares of the company’s stock, valued at approximately $400,049,919.99. This trade represents a 19.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is owned by company insiders.

BellRing Brands Trading Up 0.9%

BellRing Brands stock opened at $29.25 on Monday. The company has a fifty day simple moving average of $34.99 and a 200-day simple moving average of $49.21. The stock has a market cap of $3.68 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70. BellRing Brands Inc. has a 12-month low of $28.63 and a 12-month high of $80.67.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $282.40 million during the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. As a group, 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 authorized a stock repurchase program on Tuesday, September 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. UBS Group reduced their price target on shares of BellRing Brands from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Barclays cut their target price on shares of BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Sanford C. Bernstein initiated coverage on shares of BellRing Brands in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Evercore ISI cut their price objective on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and an average price target of $61.56.

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.