BellRing Brands Inc. (NYSE:BRBR) Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 886,867 shares of the company's stock after selling 15,344 shares during the period. Principal Financial Group Inc. owned approximately 0.69% of BellRing Brands worth $66,036,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BRBR. Steward Partners Investment Advisory LLC boosted its position in shares of BellRing Brands by 18.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,111 shares of the company's stock worth $159,000 after buying an additional 332 shares in the last quarter. Atria Investments Inc boosted its position in shares of BellRing Brands by 21.6% in the 4th quarter. Atria Investments Inc now owns 12,439 shares of the company's stock worth $937,000 after buying an additional 2,212 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of BellRing Brands in the 4th quarter worth about $4,660,000. Raymond James Financial Inc. purchased a new stake in shares of BellRing Brands in the 4th quarter worth about $18,356,000. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of BellRing Brands by 5.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock worth $264,000 after buying an additional 188 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $57.45, for a total transaction of $91,920.00. Following the sale, the chief executive officer directly owned 200,378 shares in the company, valued at approximately $11,511,716.10. The trade was a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,000 shares of company stock valued at $477,872 over the last quarter. 1.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group decreased their price objective on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Truist Financial reduced their target price on shares of BellRing Brands from $65.00 to $60.00 and set a "hold" rating on the stock in a report on Wednesday, July 2nd. Citigroup reduced their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley started coverage on shares of BellRing Brands in a report on Monday, March 24th. They issued an "overweight" rating and a $84.00 target price on the stock. Finally, Evercore ISI reduced their target price on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.69.

BellRing Brands Stock Up 0.1%

NYSE BRBR traded up $0.04 during trading hours on Tuesday, hitting $57.32. The company had a trading volume of 1,078,985 shares, compared to its average volume of 1,389,573. BellRing Brands Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The business has a fifty day simple moving average of $62.82 and a 200-day simple moving average of $69.95. The firm has a market cap of $7.28 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting 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 firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. During the same period last year, the company earned $0.45 earnings per share. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

About BellRing Brands

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.