New York State Teachers Retirement System Has $11.26 Million Stock Holdings in BellRing Brands Inc. (NYSE:BRBR)

New York State Teachers Retirement System reduced its stake in BellRing Brands Inc. (NYSE:BRBR) by 0.1% in the 1st quarter, HoldingsChannel reports. The firm owned 151,238 shares of the company’s stock after selling 176 shares during the quarter. New York State Teachers Retirement System’s holdings in BellRing Brands were worth $11,261,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BRBR. Versant Capital Management Inc boosted its position in shares of BellRing Brands by 1,742.9% during the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in BellRing Brands by 175.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock valued at $33,000 after buying an additional 283 shares in the last quarter. Colonial Trust Co SC acquired a new position in BellRing Brands during the 4th quarter worth approximately $44,000. Aster Capital Management DIFC Ltd boosted its holdings in BellRing Brands by 747.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company’s stock worth $55,000 after acquiring an additional 643 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company’s stock worth $69,000 after acquiring an additional 591 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BRBR shares. Barclays set a $75.00 price objective on BellRing Brands and gave the company an “overweight” rating in a report on Wednesday, May 7th. Morgan Stanley initiated coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an “overweight” rating and a $84.00 price target for the company. Citigroup lowered their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. UBS Group dropped their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Mizuho reduced their price objective on shares of BellRing Brands from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, May 28th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Insider Activity at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction on Friday, June 27th. The stock was sold at an average price of $58.04, for a total transaction of $92,864.00. Following the sale, the chief executive officer directly owned 201,978 shares in the company, valued at approximately $11,722,803.12. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 6,400 shares of company stock worth $385,952 over the last three months. Company insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

Shares of BRBR stock opened at $57.58 on Friday. The firm has a 50-day moving average of $63.53 and a 200-day moving average of $70.30. BellRing Brands Inc. has a one year low of $48.06 and a one year high of $80.67. The company has a market cap of $7.31 billion, a P/E ratio of 26.78, a P/E/G ratio of 1.81 and a beta of 0.70.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts expect 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 repurchase plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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.