Allianz Asset Management GmbH Has $43.10 Million Holdings in BellRing Brands Inc. (NYSE:BRBR)

Allianz Asset Management GmbH trimmed its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 578,831 shares of the company's stock after selling 54,576 shares during the period. Allianz Asset Management GmbH owned about 0.45% of BellRing Brands worth $43,100,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Versant Capital Management Inc raised its holdings in BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 366 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of BellRing Brands by 175.8% in the first 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. First Horizon Advisors Inc. raised its stake in shares of 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 during the last quarter. Colonial Trust Co SC acquired a new position in shares of BellRing Brands during the 4th quarter worth $44,000. Finally, Larson Financial Group LLC boosted its position in shares of BellRing Brands by 2,660.0% in the 1st quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $51,000 after buying an additional 665 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BRBR shares. Truist Financial cut their target price on shares of BellRing Brands from $65.00 to $60.00 and set a "hold" rating for the company in a research report on Wednesday, July 2nd. Evercore ISI cut their price objective on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Barclays set a $75.00 target price on BellRing Brands and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Jefferies Financial Group raised their price target on BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, UBS Group reduced their price objective on BellRing Brands from $71.00 to $63.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.06.

Insider Activity

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $57.70, for a total transaction of $92,320.00. Following the completion of the transaction, the chief executive officer directly owned 197,178 shares in the company, valued at $11,377,170.60. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 11,200 shares of company stock valued at $662,448 over the last 90 days. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

NYSE:BRBR traded up $0.80 during trading hours on Friday, hitting $54.75. 3,396,054 shares of the company's stock traded hands, compared to its average volume of 2,392,617. BellRing Brands Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The firm has a market cap of $6.95 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.78 and a beta of 0.70. The stock's fifty day moving average price is $59.52 and its two-hundred day moving average price is $68.20.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period in the prior year, the firm posted $0.45 EPS. The business's revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

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.