Allspring Global Investments Holdings LLC Trims Stock Holdings in BellRing Brands Inc. (NYSE:BRBR)

Allspring Global Investments Holdings LLC decreased its holdings in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 26.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,669 shares of the company's stock after selling 171,747 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.38% of BellRing Brands worth $36,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BRBR. Dorsey Wright & Associates grew its holdings in shares of BellRing Brands by 0.3% during the 4th quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after acquiring an additional 163 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of BellRing Brands by 5.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock valued at $264,000 after purchasing an additional 188 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in BellRing Brands by 6.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,869 shares of the company's stock worth $291,000 after purchasing an additional 237 shares during the period. GAMMA Investing LLC raised its holdings in BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock worth $172,000 after purchasing an additional 252 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in BellRing Brands by 175.8% during 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 during the period. Institutional investors own 94.97% of the company's stock.

Insider Buying and Selling

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the 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 transaction, the chief executive officer directly owned 201,978 shares of the company's stock, valued at $11,722,803.12. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 6,400 shares of company stock valued at $385,952. Insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of NYSE:BRBR traded up $0.08 during midday trading on Friday, reaching $57.58. 832,039 shares of the company's stock traded hands, compared to its average volume of 1,386,029. 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 price-to-earnings ratio of 26.78, a P/E/G ratio of 1.82 and a beta of 0.70. The stock has a 50 day moving average of $63.53 and a 200 day moving average of $70.30.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. During the same quarter last year, the firm posted $0.45 EPS. The business's quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its board has approved a share repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson raised shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research report on Tuesday, May 27th. Citigroup cut 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. Truist Financial decreased 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 note on Wednesday. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI cut their price target on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, BellRing Brands has a consensus rating of "Moderate Buy" and an average target price of $76.69.

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.