Comerica Bank Has $4.44 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Comerica Bank lowered its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,974 shares of the company's stock after selling 8,917 shares during the period. Comerica Bank's holdings in BellRing Brands were worth $4,443,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC boosted its holdings in shares of BellRing Brands by 152.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company's stock valued at $1,264,000 after purchasing an additional 10,117 shares in the last quarter. Encompass More Asset Management acquired a new stake in BellRing Brands in the fourth quarter valued at about $549,000. Harel Insurance Investments & Financial Services Ltd. grew its position in BellRing Brands by 4.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock valued at $6,223,000 after acquiring an additional 3,865 shares during the last quarter. Truist Financial Corp raised its stake in BellRing Brands by 11.8% during the fourth quarter. Truist Financial Corp now owns 672,139 shares of the company's stock worth $50,639,000 after acquiring an additional 70,878 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in BellRing Brands during the fourth quarter worth about $10,673,000. Institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE:BRBR traded down $0.66 during trading on Friday, reaching $61.18. The stock had a trading volume of 1,993,837 shares, compared to its average volume of 1,273,192. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The firm's fifty day moving average is $72.00 and its 200 day moving average is $73.57. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business had revenue of $588.00 million for the quarter, compared to analysts' expectations of $577.56 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert V. Vitale sold 5,100 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.30, for a total value of $384,030.00. Following the completion of the sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,828 shares of company stock worth $16,917,365. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday. Evercore ISI cut their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday. Mizuho boosted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley started coverage on BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $77.00.

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.