Nuveen Asset Management LLC Has $81.13 Million Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Nuveen Asset Management LLC cut its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,076,800 shares of the company's stock after selling 131,637 shares during the period. Nuveen Asset Management LLC owned about 0.84% of BellRing Brands worth $81,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock worth $1,012,419,000 after buying an additional 135,105 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of BellRing Brands by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after buying an additional 96,991 shares in the last quarter. Invesco Ltd. raised its holdings in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock worth $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP grew its position in 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 acquiring an additional 898,885 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in BellRing Brands by 32.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after acquiring an additional 564,342 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRBR has been the topic of a number of research analyst reports. UBS Group decreased their price target on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Citigroup decreased their price target 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. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price target on the stock. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Mizuho increased their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BellRing Brands has a consensus rating of "Moderate Buy" and an average target price of $77.63.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert V. Vitale sold 15,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $73.06, for a total value of $1,095,900.00. Following the completion of the transaction, the director now directly owns 818,180 shares in the company, valued at approximately $59,776,230.80. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Stock Performance

BRBR traded up $1.16 during mid-day trading on Friday, reaching $61.79. The stock had a trading volume of 1,619,090 shares, compared to its average volume of 1,318,642. The stock has a market capitalization of $7.85 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.24 and a beta of 0.86. The firm's fifty day simple moving average is $71.14 and its two-hundred day simple moving average is $73.31. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. The company 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 firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, 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 approved a stock buyback program on Thursday, March 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are often 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.