Carnegie Capital Asset Management LLC Trims Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Carnegie Capital Asset Management LLC reduced its stake in BellRing Brands, Inc. (NYSE:BRBR) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,863 shares of the company’s stock after selling 2,333 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in BellRing Brands were worth $1,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BRBR. Geneos Wealth Management Inc. purchased a new stake in shares of BellRing Brands in the first quarter valued at $31,000. Point72 Middle East FZE purchased a new stake in shares of BellRing Brands in the fourth quarter valued at $33,000. Allworth Financial LP lifted its position in shares of BellRing Brands by 59.2% in the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after acquiring an additional 375 shares in the last quarter. 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 worth $50,000 after buying an additional 636 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in BellRing Brands during the fourth quarter worth about $56,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total value of $57,810.00. Following the completion of the sale, the director now owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

BellRing Brands Stock Performance

BRBR stock opened at $54.52 on Tuesday. BellRing Brands, Inc. has a 1 year low of $33.99 and a 1 year high of $62.76. The firm has a market cap of $7.14 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 2.09 and a beta of 0.83. The stock has a 50-day simple moving average of $58.25 and a 200-day simple moving average of $52.89.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial downgraded BellRing Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Stifel Nicolaus increased their target price on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Barclays increased their target price on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stephens reiterated an “equal weight” rating and set a $51.00 target price on shares of BellRing Brands in a research report on Tuesday, February 6th. Finally, Morgan Stanley upped their price target on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.08.

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.