American Century Companies Inc. Sells 128,001 Shares of BellRing Brands Inc. $BRBR

American Century Companies Inc. lessened its stake in BellRing Brands Inc. (NYSE:BRBR) by 73.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,924 shares of the company’s stock after selling 128,001 shares during the quarter. American Century Companies Inc.’s holdings in BellRing Brands were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Maseco LLP bought a new stake in shares of BellRing Brands during the second quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its holdings in BellRing Brands by 149.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after buying an additional 310 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in BellRing Brands by 287.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $65,000 after buying an additional 649 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BellRing Brands in the 2nd quarter valued at $82,000. Finally, Headlands Technologies LLC acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $91,000. 94.97% of the stock is owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $30.54 on Wednesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 4.08 and a beta of 0.67. BellRing Brands Inc. has a 52 week low of $22.45 and a 52 week high of $80.67. The company’s 50 day moving average price is $31.34 and its two-hundred day moving average price is $43.19.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The firm had revenue of $648.20 million for the quarter, compared to analyst estimates of $633.21 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has initiated a share repurchase plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI decreased their price target on BellRing Brands from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Stifel Nicolaus cut their target price on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Mizuho reduced their target price on shares of BellRing Brands from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. DA Davidson set a $38.00 price target on shares of BellRing Brands in a research note on Thursday, November 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.53.

Insider Buying and Selling

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $122,792.10. Following the sale, the insider directly owned 54,812 shares of the company’s stock, valued at $1,695,335.16. The trade was a 6.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.07% of the stock is owned by company insiders.

BellRing Brands 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.