Raymond James Financial Services Advisors Inc. Cuts Stake in BellRing Brands, Inc. (NYSE:BRBR)

Raymond James Financial Services Advisors Inc. lowered its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 26.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,924 shares of the company’s stock after selling 1,426 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in BellRing Brands were worth $218,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FMR LLC raised its stake in BellRing Brands by 1.9% in the 3rd quarter. FMR LLC now owns 4,524,052 shares of the company’s stock valued at $186,527,000 after purchasing an additional 84,750 shares during the last quarter. Invesco Ltd. raised its stake in BellRing Brands by 50.9% in the 3rd quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock valued at $110,813,000 after purchasing an additional 906,559 shares during the last quarter. London Co. of Virginia raised its stake in BellRing Brands by 1.1% in the 3rd quarter. London Co. of Virginia now owns 2,232,366 shares of the company’s stock valued at $92,040,000 after purchasing an additional 23,769 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in BellRing Brands by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,382,931 shares of the company’s stock valued at $57,018,000 after buying an additional 51,308 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in BellRing Brands by 9.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,137,617 shares of the company’s stock valued at $46,904,000 after buying an additional 99,529 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BRBR. Needham & Company LLC lifted their price target on BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Morgan Stanley lifted their price target on BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. TD Cowen began coverage on BellRing Brands in a report on Monday. They issued a “buy” rating and a $64.00 price target for the company. Citigroup began coverage on BellRing Brands in a report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target for the company. Finally, Mizuho lifted their price target on BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.62.

BellRing Brands Stock Performance

BellRing Brands stock opened at $55.62 on Thursday. The stock’s 50 day moving average price is $57.73 and its 200 day moving average price is $53.48. The firm has a market capitalization of $7.29 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 2.09 and a beta of 0.83. BellRing Brands, Inc. has a one year low of $34.58 and a one year high of $62.76.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. On average, analysts forecast that BellRing Brands, Inc. will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total value of $57,810.00. Following the transaction, the director now directly owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is currently 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.