Wealth Enhancement Advisory Services LLC Has $2.37 Million Holdings in BellRing Brands Inc. (NYSE:BRBR)

Wealth Enhancement Advisory Services LLC decreased its position in BellRing Brands Inc. (NYSE:BRBR - Free Report) by 29.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,805 shares of the company's stock after selling 13,534 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in BellRing Brands were worth $2,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in BellRing Brands by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after purchasing an additional 135,105 shares during the period. Franklin Resources Inc. boosted its position in shares of BellRing Brands by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company's stock worth $344,885,000 after buying an additional 96,991 shares during the period. Invesco Ltd. grew its holdings in shares of BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after buying an additional 1,121,691 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $275,413,000 after buying an additional 898,885 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position 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 valued at $174,866,000 after buying an additional 564,342 shares during the period. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Stock Up 2.2%

Shares of BRBR opened at $58.52 on Friday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 1.85 and a beta of 0.74. The company's fifty day moving average is $64.83 and its 200-day moving average is $70.81. BellRing Brands Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.53. The firm had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. BellRing Brands's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, research analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Tuesday, May 27th. 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. Evercore ISI decreased their price target on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Finally, Truist Financial cut their target price on shares of BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.00.

Insider Transactions at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.58, for a total transaction of $96,928.00. Following the completion of the sale, the chief executive officer now owns 206,778 shares of the company's stock, valued at $12,526,611.24. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas J. Cornille sold 3,192 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $75.13, for a total value of $239,814.96. Following the transaction, the insider now owns 57,836 shares in the company, valued at approximately $4,345,218.68. This trade represents a 5.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,992 shares of company stock worth $532,903. 1.07% of the stock is owned by corporate insiders.

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.

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