Arizona State Retirement System Sells 1,068 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Arizona State Retirement System lessened its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,745 shares of the company’s stock after selling 1,068 shares during the period. Arizona State Retirement System’s holdings in BellRing Brands were worth $2,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BRBR. Bellecapital International Ltd. acquired a new stake in BellRing Brands during the 4th quarter worth approximately $241,000. McGlone Suttner Wealth Management Inc. bought a new position in BellRing Brands during the 4th quarter worth $56,000. Everett Harris & Co. CA acquired a new stake in shares of BellRing Brands during the fourth quarter worth $250,000. Pacer Advisors Inc. boosted its position in shares of BellRing Brands by 63.7% in the fourth quarter. Pacer Advisors Inc. now owns 24,352 shares of the company’s stock valued at $1,350,000 after acquiring an additional 9,476 shares during the period. Finally, Raymond James & Associates acquired a new position in shares of BellRing Brands in the fourth quarter valued at about $654,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.3 %

BellRing Brands stock opened at $56.06 on Friday. The stock has a market cap of $7.34 billion, a PE ratio of 45.21, a P/E/G ratio of 2.19 and a beta of 0.83. BellRing Brands, Inc. has a 12-month low of $33.33 and a 12-month high of $62.76. The business’s 50-day moving average price is $58.35 and its two-hundred day moving average price is $52.53.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results 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. The company had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. As a group, analysts expect that BellRing Brands, Inc. will post 1.67 earnings per share for the current year.

Insider Transactions at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several analyst reports. Truist Financial cut shares of BellRing Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $50.00 in a research note on Wednesday, January 3rd. Stifel Nicolaus raised their price objective on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Citigroup initiated coverage on BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 target price for the company. Mizuho raised their price target on BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Needham & Company LLC boosted their price target on BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.08.

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.