Envestnet Asset Management Inc. Buys 43,086 Shares of BellRing Brands Inc. (NYSE:BRBR)

Envestnet Asset Management Inc. grew its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 301,388 shares of the company's stock after purchasing an additional 43,086 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of BellRing Brands worth $22,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake in BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock valued at $29,000 after buying an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after buying an additional 283 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock valued at $34,000 after buying an additional 340 shares in the last quarter. Colonial Trust Co SC purchased a new stake in BellRing Brands during the fourth quarter valued at about $44,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock valued at $55,000 after buying an additional 643 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

Insider Activity

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $57.66, for a total transaction of $92,256.00. Following the transaction, the chief executive officer owned 198,778 shares of the company's stock, valued at approximately $11,461,539.48. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 9,600 shares of company stock valued at $570,128 in the last 90 days. Company insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of BellRing Brands in a research note on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective for the company. Evercore ISI reduced their price objective on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Mizuho reduced their price target on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. UBS Group reduced their price target on shares of BellRing Brands from $71.00 to $63.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Barclays set a $75.00 price target on shares of BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $76.19.

BellRing Brands Stock Up 0.1%

BRBR stock traded up $0.04 during midday trading on Thursday, hitting $57.28. 1,153,231 shares of the company traded hands, compared to its average volume of 1,404,795. BellRing Brands Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The business has a 50 day simple moving average of $60.60 and a 200-day simple moving average of $69.13. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70.

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 the consensus estimate of $0.53. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. During the same quarter last year, the company posted $0.45 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

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.