Share Repurchase Program Announced by BellRing Brands (NYSE:BRBR) Board

BellRing Brands (NYSE:BRBR) declared that its board has initiated a share repurchase program on Thursday, March 6th, RTT News reports. The company plans to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. TD Cowen raised their price objective 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. Mizuho raised their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Truist Financial raised their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Finally, Citigroup raised their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.79.

BellRing Brands Trading Up 0.9 %

NYSE BRBR opened at $69.02 on Friday. BellRing Brands has a 12 month low of $48.06 and a 12 month high of $80.67. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 2.24 and a beta of 0.85. The company’s 50 day moving average is $74.53 and its two-hundred day moving average is $69.64.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data 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%. Sell-side analysts forecast that BellRing Brands will post 2.23 EPS for the current year.

Insider Activity

In other news, Director Robert V. Vitale sold 79,068 shares of BellRing Brands stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $77.04, for a total transaction of $6,091,398.72. Following the sale, the director now owns 982,706 shares in the company, valued at $75,707,670.24. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 218,636 shares of company stock worth $16,677,550 over the last quarter. 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.