Bank of New York Mellon Corp Grows Stock Holdings in BellRing Brands Inc. (NYSE:BRBR)

Bank of New York Mellon Corp boosted its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,023,761 shares of the company's stock after acquiring an additional 23,299 shares during the period. Bank of New York Mellon Corp owned 0.80% of BellRing Brands worth $76,229,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in BellRing Brands by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after acquiring an additional 135,105 shares during the last quarter. Franklin Resources Inc. boosted its holdings in BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock valued at $344,885,000 after acquiring an additional 96,991 shares during the last quarter. Invesco Ltd. boosted its holdings in 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 during the last quarter. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 898,885 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in BellRing Brands by 32.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,321,022 shares of the company's stock worth $174,866,000 after buying an additional 564,342 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

Insider Transactions at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $57.45, for a total transaction of $91,920.00. Following the completion of the sale, the chief executive officer owned 200,378 shares of the company's stock, valued at approximately $11,511,716.10. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 8,000 shares of company stock worth $477,872 over the last three months. 1.07% of the stock is currently owned by company insiders.

BellRing Brands Price Performance

Shares of NYSE BRBR traded up $0.69 during trading on Monday, hitting $58.63. The stock had a trading volume of 2,750,229 shares, compared to its average volume of 1,753,228. BellRing Brands Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The company has a market capitalization of $7.45 billion, a PE ratio of 27.27, a PEG ratio of 1.82 and a beta of 0.70. The firm has a fifty day moving average of $61.25 and a two-hundred day moving average of $69.42.

BellRing Brands (NYSE:BRBR - Get Free Report) last released 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. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same period last year, the business posted $0.45 earnings per share. The business's revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRBR. Truist Financial reduced their target price on BellRing Brands from $65.00 to $60.00 and set a "hold" rating on the stock in a report on Wednesday, July 2nd. Morgan Stanley began coverage on BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. Barclays set a $75.00 target price on BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. UBS Group reduced their target price on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $76.69.

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.