BellRing Brands, Inc. (NYSE:BRBR) Holdings Cut by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its position in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 308,763 shares of the company's stock after selling 16,026 shares during the period. Silvercrest Asset Management Group LLC owned about 0.24% of BellRing Brands worth $23,262,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BRBR. Fifth Third Wealth Advisors LLC raised its position in shares of BellRing Brands by 6.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,669 shares of the company's stock worth $352,000 after acquiring an additional 266 shares during the period. Merit Financial Group LLC acquired a new position in shares of BellRing Brands during the 4th quarter worth about $706,000. Somerset Trust Co acquired a new position in shares of BellRing Brands during the 4th quarter worth about $203,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of BellRing Brands during the 4th quarter worth about $226,000. Finally, Oak Ridge Investments LLC raised its position in shares of BellRing Brands by 2.3% during the 4th quarter. Oak Ridge Investments LLC now owns 129,795 shares of the company's stock worth $9,779,000 after purchasing an additional 2,959 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the 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 transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert V. Vitale sold 46,766 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $74.72, for a total transaction of $3,494,355.52. Following the transaction, the director now owns 848,180 shares in the company, valued at $63,376,009.60. This trade represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,958 shares of company stock worth $4,830,070 over the last ninety days. 1.07% of the stock is owned by company insiders.

BellRing Brands Trading Down 2.0%

Shares of BellRing Brands stock traded down $1.35 during trading hours on Tuesday, reaching $65.32. 2,189,086 shares of the company's stock were exchanged, compared to its average volume of 1,305,976. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The company has a fifty day moving average of $71.57 and a 200-day moving average of $73.54. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The firm had revenue of $588.00 million during the quarter, compared to analyst estimates of $577.56 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. BellRing Brands's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on BRBR. Mizuho upped their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stephens restated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Truist Financial reduced their price target 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. Finally, Evercore ISI cut their price objective 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. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.63.

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.