BellRing Brands Inc. (NYSE:BRBR) Position Lessened by Principal Financial Group Inc.

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorsey Wright & Associates grew its holdings in shares of BellRing Brands by 0.3% in the fourth quarter. Dorsey Wright & Associates now owns 50,429 shares of the company's stock worth $3,799,000 after purchasing an additional 163 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in BellRing Brands by 5.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company's stock valued at $264,000 after acquiring an additional 188 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in BellRing Brands by 6.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,869 shares of the company's stock valued at $291,000 after acquiring an additional 237 shares in the last quarter. GAMMA Investing LLC boosted its holdings in BellRing Brands by 12.2% in the first quarter. GAMMA Investing LLC now owns 2,316 shares of the company's stock valued at $172,000 after acquiring an additional 252 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in BellRing Brands by 175.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Insider Activity

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the company's 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 sale, the chief executive officer owned 200,378 shares of the company's stock, valued at approximately $11,511,716.10. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,000 shares of company stock valued at $477,872 in the last ninety days. 1.07% of the stock is owned by corporate insiders.

BellRing Brands Trading Down 0.5%

BRBR traded down $0.30 during trading on Wednesday, hitting $57.21. 1,418,920 shares of the company's stock traded hands, compared to its average volume of 1,398,542. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.80 and a beta of 0.70. BellRing Brands Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company's 50 day simple moving average is $62.43 and its two-hundred day simple moving average is $69.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 133.63% and a net margin of 12.82%. BellRing Brands's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. On average, equities analysts expect that BellRing Brands Inc. will post 2.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BRBR shares. Barclays set a $75.00 price target on BellRing Brands and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Evercore ISI cut their target price 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. Truist Financial reduced their target price on BellRing Brands from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Wednesday, July 2nd. Citigroup reduced their price objective 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. Finally, Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, BellRing Brands presently has an average rating of "Moderate Buy" and a consensus target price 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.