Ameriprise Financial Inc. Sells 33,228 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Ameriprise Financial Inc. trimmed its position in BellRing Brands, Inc. (NYSE:BRBR) by 15.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 177,597 shares of the company’s stock after selling 33,228 shares during the period. Ameriprise Financial Inc. owned about 0.14% of BellRing Brands worth $13,380,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in BellRing Brands by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company’s stock valued at $1,012,419,000 after buying an additional 135,105 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of BellRing Brands by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 4,577,708 shares of the company’s stock valued at $344,885,000 after purchasing an additional 96,991 shares during the period. Invesco Ltd. lifted its stake in shares of BellRing Brands by 35.7% in the 4th quarter. Invesco Ltd. now owns 4,266,375 shares of the company’s stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the period. Wellington Management Group LLP lifted its stake in shares of BellRing Brands by 32.6% in the 4th quarter. Wellington Management Group LLP now owns 3,655,607 shares of the company’s stock valued at $275,413,000 after purchasing an additional 898,885 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of BellRing Brands by 284.2% in the 4th quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company’s stock valued at $171,663,000 after purchasing an additional 1,685,525 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

NYSE:BRBR opened at $65.95 on Friday. The company has a market cap of $8.46 billion, a PE ratio of 30.96, a PEG ratio of 2.24 and a beta of 0.86. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The stock has a 50-day simple moving average of $71.60 and a 200 day simple moving average of $73.48.

BellRing Brands (NYSE:BRBR) last posted 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 business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. BellRing Brands’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. On average, research analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has authorized a share buyback plan on Thursday, March 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BRBR. Citigroup cut their price target on BellRing Brands from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. UBS Group cut their price target on BellRing Brands from $81.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Mizuho increased their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Barclays set a $75.00 price target on BellRing Brands and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley initiated coverage on BellRing Brands in a research note on Monday, March 24th. They set an “overweight” rating and a $84.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Buying and Selling

In other BellRing Brands news, insider Douglas J. Cornille sold 3,192 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total value of $239,814.96. Following the completion of the transaction, the insider now directly owns 57,836 shares in the company, valued at $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert V. Vitale sold 46,766 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $74.72, for a total value of $3,494,355.52. Following the completion of the transaction, the director now owns 848,180 shares of the company’s stock, valued at approximately $63,376,009.60. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,207 shares of company stock worth $8,253,616. 1.07% of the stock is owned by corporate insiders.

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.