Ameriprise Financial Inc. Sells 33,228 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Ameriprise Financial Inc. reduced its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 15.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,597 shares of the company’s stock after selling 33,228 shares during the quarter. Ameriprise Financial Inc.’s holdings in BellRing Brands were worth $13,380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Encompass More Asset Management bought a new position in shares of BellRing Brands during the 4th quarter worth approximately $549,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in BellRing Brands by 4.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company’s stock worth $6,223,000 after purchasing an additional 3,865 shares during the last quarter. Truist Financial Corp lifted its holdings in BellRing Brands by 11.8% during the 4th quarter. Truist Financial Corp now owns 672,139 shares of the company’s stock worth $50,639,000 after purchasing an additional 70,878 shares during the last quarter. Ieq Capital LLC acquired a new stake in BellRing Brands during the 4th quarter worth approximately $10,673,000. Finally, Atomi Financial Group Inc. acquired a new stake in BellRing Brands during the 4th quarter worth approximately $302,000. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BRBR. Barclays set a $75.00 price target on BellRing Brands and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Mizuho lifted their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Truist Financial dropped their price target on BellRing Brands from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 8th. UBS Group dropped their price target on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Evercore ISI dropped their price target on BellRing Brands from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 15,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the sale, the director now owns 818,180 shares in the company, valued at $59,776,230.80. The trade was a 1.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,207 shares of company stock valued at $8,253,616. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $65.95 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The business has a fifty day moving average price of $71.60 and a two-hundred day moving average price of $73.48. The stock has a market capitalization of $8.46 billion, a PE ratio of 30.96, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $577.56 million. During the same quarter in the previous year, the firm earned $0.45 EPS. BellRing Brands’s revenue was up 18.9% on a year-over-year basis. On average, equities analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its Board of Directors has authorized a share repurchase program on Thursday, March 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.