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

E. Ohman J or Asset Management AB cut its holdings in shares of 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. The institutional investor owned 471,054 shares of the company's stock after selling 63,562 shares during the period. BellRing Brands makes up approximately 0.9% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 29th largest holding. E. Ohman J or Asset Management AB owned 0.37% of BellRing Brands worth $35,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock worth $33,000 after acquiring an additional 283 shares in the last quarter. Colonial Trust Co SC bought a new stake in BellRing Brands during the fourth quarter worth about $44,000. Aster Capital Management DIFC Ltd increased its position in BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after buying an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of BellRing Brands by 180.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock valued at $69,000 after purchasing an additional 591 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BRBR. Morgan Stanley began coverage on BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price on the stock. Citigroup decreased their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI decreased their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday, May 27th. Finally, Truist Financial reduced their price target on BellRing Brands from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands presently has an average rating of "Moderate Buy" and a consensus target price of $77.00.

Insider Activity

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $62.91, for a total value of $100,656.00. Following the completion of the sale, the chief executive officer now directly owns 208,378 shares of the company's stock, valued at $13,109,059.98. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were 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 $4,345,218.68. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,392 shares of company stock worth $437,399 in the last three months. Company insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of BRBR traded down $0.76 during trading hours on Monday, reaching $60.21. The stock had a trading volume of 1,983,391 shares, compared to its average volume of 1,370,060. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The stock has a market capitalization of $7.65 billion, a PE ratio of 28.27, a PEG ratio of 2.24 and a beta of 0.74. The company's 50-day moving average is $68.91 and its two-hundred day moving average is $72.61.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, meeting analysts' consensus estimates of $0.53. The company had revenue of $588.00 million during the quarter, compared to analysts' expectations 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 revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. Equities analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its Board of Directors has initiated a stock buyback program 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 programs are typically a sign that the company's management 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.