Ameriprise Financial Inc. Lowers Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Ameriprise Financial Inc. cut its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,597 shares of the company's stock after selling 33,228 shares during the period. Ameriprise Financial Inc. owned 0.14% of BellRing Brands worth $13,380,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BRBR. SeaBridge Investment Advisors LLC raised its position in BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company's stock valued at $1,337,000 after purchasing an additional 142 shares during the period. Fifth Third Bancorp increased its holdings in BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after purchasing an additional 153 shares during the period. Dorsey Wright & Associates increased its holdings in 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 purchasing an additional 163 shares during the period. Argonautica Private Wealth Management Inc. increased its holdings in BellRing Brands by 3.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company's stock worth $472,000 after purchasing an additional 185 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its holdings in BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after purchasing an additional 188 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Mizuho upped their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. 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 report on Wednesday, May 7th. Finally, UBS Group cut their price target on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and an average price target of $77.63.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the sale, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $73.06, for a total value of $1,095,900.00. Following the sale, the director now owns 818,180 shares in the company, valued at $59,776,230.80. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company's stock.

BellRing Brands Trading Up 1.9%

NYSE:BRBR traded up $1.16 during trading hours on Friday, hitting $61.79. The company's stock had a trading volume of 1,619,090 shares, compared to its average volume of 1,318,642. The stock has a fifty day moving average of $71.14 and a 200-day moving average of $73.31. The stock has a market capitalization of $7.85 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67.

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

BellRing Brands declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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.