BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by First Hawaiian Bank

First Hawaiian Bank decreased its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,967 shares of the company's stock after selling 4,332 shares during the quarter. First Hawaiian Bank's holdings in BellRing Brands were worth $1,189,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRBR. AQR Capital Management LLC lifted its holdings in BellRing Brands by 284.2% in the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock valued at $171,663,000 after purchasing an additional 1,685,525 shares in the last quarter. Norges Bank acquired a new stake in shares of BellRing Brands in the fourth quarter valued at about $114,185,000. Invesco Ltd. lifted 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 buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP boosted 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 last quarter. Finally, Bank of America Corp DE grew its stake in BellRing Brands by 73.5% during the 4th quarter. Bank of America Corp DE now owns 1,709,652 shares of the company's stock valued at $128,805,000 after acquiring an additional 724,337 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock traded down $0.01 on Monday, reaching $62.94. The company had a trading volume of 1,975,478 shares, compared to its average volume of 1,350,552. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The firm's 50 day moving average price is $70.13 and its two-hundred day moving average price is $73.03. The firm has a market cap of $7.99 billion, a PE ratio of 29.55, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. The business had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

BellRing Brands announced that its board has authorized a stock repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on BRBR shares. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a report on Tuesday, May 27th. Mizuho cut their price target on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Evercore ISI lowered their price objective on BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Citigroup dropped their target price on BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,192 shares of BellRing Brands stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total transaction of $239,814.96. Following the completion of the sale, the insider now directly owns 57,836 shares of the company's stock, valued at approximately $4,345,218.68. The trade was a 5.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.07% of the company's stock.

BellRing Brands 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.