Charles Schwab Investment Management Inc. Cuts Position in BellRing Brands Inc. (NYSE:BRBR)

Charles Schwab Investment Management Inc. lessened its holdings in BellRing Brands Inc. (NYSE:BRBR) by 2.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,230,534 shares of the company’s stock after selling 27,684 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in BellRing Brands were worth $91,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of BellRing Brands by 1,742.9% in the 1st quarter. Versant Capital Management Inc now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 366 shares in the last quarter. TCTC Holdings LLC increased its stake in shares of BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in BellRing Brands by 175.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company’s stock worth $33,000 after buying an additional 283 shares in the last quarter. First Horizon Advisors Inc. increased its stake in BellRing Brands by 283.3% during the 1st quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock worth $34,000 after buying an additional 340 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in BellRing Brands during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Activity at BellRing Brands

In other BellRing Brands news, Director Shawn Conway acquired 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $36.41 per share, for a total transaction of $98,307.00. Following the completion of the acquisition, the director owned 6,685 shares of the company’s stock, valued at approximately $243,400.85. The trade was a 67.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $54.18, for a total value of $86,688.00. Following the completion of the transaction, the chief executive officer owned 193,978 shares in the company, valued at $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,400 shares of company stock worth $836,224. Insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BRBR. DA Davidson upgraded BellRing Brands from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 27th. Morgan Stanley cut their price objective on BellRing Brands from $78.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Evercore ISI cut their price objective on BellRing Brands from $82.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Stephens upgraded BellRing Brands from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $68.00 to $50.00 in a research note on Wednesday, August 6th. Finally, Barclays cut their price objective on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Two 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.86.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $38.78 on Wednesday. The stock has a market cap of $4.93 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.90 and a beta of 0.72. The stock’s 50 day simple moving average is $55.70 and its 200-day simple moving average is $65.95. BellRing Brands Inc. has a 1-year low of $34.02 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. The business had revenue of $547.50 million for the quarter, compared to analysts’ expectations of $530.76 million. During the same period in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands 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.