HighTower Advisors LLC Sells 1,033 Shares of BellRing Brands, Inc. (NYSE:BRBR)

HighTower Advisors LLC cut its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,020 shares of the company’s stock after selling 1,033 shares during the period. HighTower Advisors LLC’s holdings in BellRing Brands were worth $1,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRBR. Belpointe Asset Management LLC acquired a new position in shares of BellRing Brands during the fourth quarter worth $34,000. Geneos Wealth Management Inc. acquired a new position in shares of BellRing Brands during the first quarter worth $31,000. Macquarie Group Ltd. increased its holdings in shares of BellRing Brands by 70.7% during the second quarter. Macquarie Group Ltd. now owns 2,900 shares of the company’s stock worth $72,000 after buying an additional 1,201 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of BellRing Brands by 1,612.5% during the first quarter. Captrust Financial Advisors now owns 3,288 shares of the company’s stock worth $76,000 after buying an additional 3,096 shares in the last quarter. Finally, First Manhattan Co. acquired a new position in shares of BellRing Brands during the first quarter worth $76,000. 92.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BRBR. Jefferies Financial Group upped their price target on shares of BellRing Brands from $38.00 to $42.00 in a report on Friday, April 28th. Morgan Stanley increased their price objective on BellRing Brands from $32.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, April 11th. Stephens increased their price objective on BellRing Brands from $39.00 to $43.00 in a report on Wednesday, May 10th. Needham & Company LLC increased their price objective on BellRing Brands from $40.00 to $44.00 in a report on Wednesday, May 10th. Finally, Bank of America increased their price objective on BellRing Brands from $35.00 to $41.00 in a report on Tuesday, May 9th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $40.15.

BellRing Brands Price Performance

BRBR stock opened at $36.10 on Thursday. The stock has a market capitalization of $4.79 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. The company’s 50-day moving average is $34.62 and its 200-day moving average is $29.82. BellRing Brands, Inc. has a 1 year low of $20.20 and a 1 year high of $37.55.

BellRing Brands (NYSE:BRBR – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $385.60 million for the quarter, compared to analysts’ expectations of $371.26 million. BellRing Brands had a net margin of 9.87% and a negative return on equity of 42.81%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, analysts anticipate that BellRing Brands, Inc. will post 1.27 earnings per share for the current fiscal year.

Insider Transactions at BellRing Brands

In other news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $35.82, for a total transaction of $537,300.00. Following the transaction, the chairman now owns 230,054 shares of the company’s stock, valued at approximately $8,240,534.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

BellRing Brands Company Profile

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BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.