Nuveen Asset Management LLC Sells 131,637 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Nuveen Asset Management LLC lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,076,800 shares of the company's stock after selling 131,637 shares during the period. Nuveen Asset Management LLC owned 0.84% of BellRing Brands worth $81,126,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BRBR. Vanguard Group Inc. increased its position in 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 during the period. Franklin Resources Inc. grew its stake in shares of BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after acquiring an additional 96,991 shares during the last quarter. Invesco Ltd. grew its stake 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 worth $321,429,000 after acquiring an additional 1,121,691 shares during the last quarter. Wellington Management Group LLP increased its position in BellRing Brands by 32.6% during the fourth 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 period. Finally, D. E. Shaw & Co. Inc. raised its stake 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 valued at $174,866,000 after purchasing an additional 564,342 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of research analyst reports. DA Davidson set a $85.00 price objective on shares of BellRing Brands in a research report on Thursday, May 15th. UBS Group cut their price target on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays set a $75.00 price objective on BellRing Brands and gave the stock an "overweight" rating 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 objective on the stock. Finally, Evercore ISI cut their target price on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.63.

Insider Transactions at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert V. Vitale sold 15,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $73.06, for a total transaction of $1,095,900.00. Following the completion of the transaction, the director now owns 818,180 shares of the company's stock, valued at $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 owned by company insiders.

BellRing Brands Stock Performance

Shares of NYSE BRBR traded down $1.33 during midday trading on Thursday, reaching $60.81. 1,294,709 shares of the company traded hands, compared to its average volume of 1,312,031. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The stock's 50-day simple moving average is $71.45 and its 200-day simple moving average is $73.40. The firm has a market cap of $7.72 billion, a PE ratio of 28.54, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.53. The business had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.45 EPS. On average, equities research 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 buyback plan on Thursday, March 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are 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.