BellRing Brands Inc. (NYSE:BRBR) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its holdings in BellRing Brands by 15.8%, selling a total of 8,336 shares, leaving them with 44,524 shares valued at approximately $3.3 million.
• In the 1st quarter, BellRing Brands reported earnings of $0.53 per share, meeting expectations, and generated revenue of $588 million, an increase of 18.9% compared to the previous year.
• BellRing Brands' stock has seen price target adjustments, with Citigroup and Mizuho lowering theirs, while Jefferies Financial Group raised its target, reflecting mixed analyst sentiment on the stock's future performance.

Alberta Investment Management Corp decreased its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,524 shares of the company's stock after selling 8,336 shares during the quarter. Alberta Investment Management Corp's holdings in BellRing Brands were worth $3,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Xponance Inc. increased its stake in BellRing Brands by 0.9% during the 1st quarter. Xponance Inc. now owns 15,221 shares of the company's stock worth $1,133,000 after buying an additional 142 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in BellRing Brands by 2.5% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 6,416 shares of the company's stock worth $478,000 after buying an additional 157 shares during the period. Stephens Inc. AR increased its stake in BellRing Brands by 5.0% during the 1st quarter. Stephens Inc. AR now owns 3,705 shares of the company's stock worth $276,000 after buying an additional 175 shares during the period. TCTC Holdings LLC increased its stake in BellRing Brands by 87.6% during the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company's stock worth $30,000 after buying an additional 190 shares during the period. Finally, Applied Finance Capital Management LLC increased its stake in BellRing Brands by 8.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 3,290 shares of the company's stock worth $245,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Down 0.8%

Shares of NYSE:BRBR opened at $54.12 on Friday. BellRing Brands Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The firm has a 50-day simple moving average of $58.69 and a 200 day simple moving average of $67.61. The company has a market cap of $6.87 billion, a PE ratio of 25.17, a P/E/G ratio of 1.76 and a beta of 0.72.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced 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. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BRBR shares. Citigroup dropped their target price 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. Jefferies Financial Group boosted their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Mizuho dropped their target price on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Evercore ISI dropped their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial dropped 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, BellRing Brands presently has a consensus rating of "Moderate Buy" and an average price target of $76.06.

Insider Transactions at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $54.43, for a total transaction of $87,088.00. Following the completion of the transaction, the chief executive officer directly owned 195,578 shares of the company's stock, valued at $10,645,310.54. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 12,800 shares of company stock worth $749,536. Insiders own 1.07% of the company's stock.

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.

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