Wealth Enhancement Advisory Services LLC Has $3.42 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Wealth Enhancement Advisory Services LLC increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 1,105.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 45,339 shares of the company's stock after buying an additional 41,578 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in BellRing Brands were worth $3,416,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BRBR. AQR Capital Management LLC lifted its holdings in shares of BellRing Brands by 284.2% during the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after buying an additional 1,685,525 shares in the last quarter. Norges Bank acquired a new position in BellRing Brands in the 4th quarter valued at $114,185,000. Invesco Ltd. lifted its position in shares of BellRing Brands by 35.7% during the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after acquiring an additional 1,121,691 shares during the period. Wellington Management Group LLP grew its holdings in shares of BellRing Brands by 32.6% during the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company's stock worth $275,413,000 after purchasing an additional 898,885 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of BellRing Brands by 73.5% in the fourth quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock worth $128,805,000 after purchasing an additional 724,337 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Down 1.0%

NYSE BRBR traded down $0.59 on Thursday, hitting $61.56. The company's stock had a trading volume of 2,106,555 shares, compared to its average volume of 1,356,269. The company's 50-day moving average is $69.45 and its 200 day moving average is $72.82. The firm has a market cap of $7.82 billion, a PE ratio of 28.90, a PEG ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $80.67.

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

BellRing Brands announced that its board has approved a stock repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction on Friday, May 30th. The shares were sold at an average price of $62.91, for a total transaction of $100,656.00. Following the completion of the transaction, the chief executive officer now owns 208,378 shares of the company's stock, valued at $13,109,059.98. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley started coverage on shares of BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Truist Financial decreased their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group dropped their price objective on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

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.