BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,198 shares of the company’s stock after selling 1,420 shares during the period. State of Alaska Department of Revenue’s holdings in BellRing Brands were worth $786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of BellRing Brands by 0.8% during the third quarter. Arizona State Retirement System now owns 37,813 shares of the company’s stock worth $1,559,000 after buying an additional 295 shares during the period. Allworth Financial LP lifted its position in BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after purchasing an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in BellRing Brands by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock valued at $2,835,000 after purchasing an additional 494 shares during the period. Parkside Financial Bank & Trust lifted its position in BellRing Brands by 108.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,224 shares of the company’s stock valued at $50,000 after purchasing an additional 636 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its position in BellRing Brands by 2.7% during the third quarter. SeaBridge Investment Advisors LLC now owns 24,484 shares of the company’s stock valued at $1,009,000 after purchasing an additional 638 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Down 1.8 %

BRBR stock opened at $56.21 on Thursday. The stock has a market capitalization of $7.36 billion, a P/E ratio of 45.33, a P/E/G ratio of 2.19 and a beta of 0.83. The firm has a 50-day simple moving average of $58.36 and a 200-day simple moving average of $52.50. BellRing Brands, Inc. has a 52 week low of $33.33 and a 52 week high of $62.76.

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

Analysts Set New Price Targets

BRBR has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Mizuho upped their price objective on shares of BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Barclays upped their price objective on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Citigroup started coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price objective for the company. Finally, Truist Financial downgraded shares of BellRing Brands from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.08.

Insider Activity at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the completion of the sale, the director now 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 can be accessed through this hyperlink. 0.80% of the stock is 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.