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

BellRing Brands (NYSE:BRBR) announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th, RTT News reports. The company plans to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $69.02 on Friday. The company has a 50-day moving average of $74.53 and a 200 day moving average of $69.64. The firm 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. BellRing Brands has a 1 year low of $48.06 and a 1 year high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, equities analysts anticipate that BellRing Brands will post 2.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BRBR shares. Jefferies Financial Group increased their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus upped 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. 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 report on Tuesday, February 4th. Finally, Truist Financial upped 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.79.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 5,100 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, the director now directly owns 1,166,691 shares of the company’s stock, valued at approximately $87,851,832.30. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 218,636 shares of company stock valued at $16,677,550. 1.07% of the stock is owned by insiders.

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.