BellRing Brands, Inc. (NYSE:BRBR) Holdings Cut by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,597 shares of the company's stock after selling 33,228 shares during the period. Ameriprise Financial Inc. owned about 0.14% of BellRing Brands worth $13,380,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BRBR. Encompass More Asset Management acquired a new stake in BellRing Brands in the fourth quarter worth $549,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of BellRing Brands by 4.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 82,598 shares of the company's stock worth $6,223,000 after acquiring an additional 3,865 shares during the last quarter. Truist Financial Corp increased its holdings in shares of BellRing Brands by 11.8% in the 4th 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 during the period. Ieq Capital LLC bought a new stake in BellRing Brands in the 4th quarter valued at about $10,673,000. Finally, Atomi Financial Group Inc. bought a new stake in BellRing Brands in the 4th quarter valued at about $302,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BRBR. Morgan Stanley assumed coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target on the stock. Citigroup reduced their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stephens reissued an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Mizuho lifted their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, DA Davidson set a $85.00 target price on shares of BellRing Brands in a research report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.63.

Insiders Place Their Bets

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The stock was 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 in the company, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Vitale sold 46,766 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $74.72, for a total value of $3,494,355.52. Following the transaction, the director now directly owns 848,180 shares in the company, valued at $63,376,009.60. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,958 shares of company stock worth $4,830,070. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Down 4.8%

BellRing Brands stock traded down $3.16 during mid-day trading on Wednesday, hitting $62.16. The company's stock had a trading volume of 2,085,187 shares, compared to its average volume of 1,309,081. The stock has a market capitalization of $7.89 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The stock's fifty day moving average price is $71.55 and its two-hundred day moving average price is $73.48.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (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 period in the previous year, the firm posted $0.45 EPS. The company's quarterly revenue was up 18.9% on a year-over-year basis. Equities analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has authorized a stock buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

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.