E. Ohman J or Asset Management AB Cuts Holdings in BellRing Brands, Inc. (NYSE:BRBR)

E. Ohman J or Asset Management AB lessened its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 471,054 shares of the company's stock after selling 63,562 shares during the quarter. BellRing Brands comprises 0.9% of E. Ohman J or Asset Management AB's holdings, making the stock its 29th largest position. E. Ohman J or Asset Management AB owned 0.37% of BellRing Brands worth $35,075,000 at the end of the most recent reporting period.

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

BellRing Brands Trading Down 1.1%

BRBR stock traded down $0.68 during midday trading on Friday, hitting $60.96. 2,248,830 shares of the company's stock were exchanged, compared to its average volume of 1,364,662. The business has a 50-day simple moving average of $68.91 and a two-hundred day simple moving average of $72.65. The stock has a market capitalization of $7.74 billion, a PE ratio of 28.62, a P/E/G 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 (EPS) for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $588.00 million for 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%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, research analysts expect that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $62.91, for a total value of $100,656.00. Following the sale, the chief executive officer now owns 208,378 shares in the company, valued at approximately $13,109,059.98. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the sale, the insider now owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BRBR shares. Barclays set a $75.00 price target on BellRing Brands and gave the company an "overweight" rating in a report on Wednesday, May 7th. Truist Financial cut their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Morgan Stanley started coverage on BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price target for the company. Mizuho cut their price target on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Finally, DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $77.00.

About BellRing Brands

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.