Retirement Systems of Alabama Increases Position in BellRing Brands, Inc. (NYSE:BRBR)

Retirement Systems of Alabama increased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,530 shares of the company’s stock after buying an additional 505 shares during the quarter. Retirement Systems of Alabama’s holdings in BellRing Brands were worth $14,109,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BRBR. Pathstone Family Office LLC purchased a new stake in BellRing Brands in the third quarter valued at $697,000. International Assets Investment Management LLC purchased a new stake in BellRing Brands in the fourth quarter valued at $5,076,000. Federated Hermes Inc. boosted its holdings in BellRing Brands by 19.8% in the third quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock valued at $10,914,000 after purchasing an additional 43,766 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in BellRing Brands by 273.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock valued at $44,298,000 after purchasing an additional 786,756 shares during the last quarter. Finally, Boston Partners purchased a new stake in BellRing Brands in the third quarter valued at $19,316,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BRBR shares. Barclays upped their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Morgan Stanley increased their target price on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Truist Financial lowered shares of BellRing Brands from a “buy” rating to a “hold” rating and lowered their target price for the stock from $55.00 to $50.00 in a research note on Wednesday, January 3rd. Needham & Company LLC increased their target price on shares of BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of BellRing Brands 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 company. According to MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $58.92.

BellRing Brands Stock Up 0.6 %

BRBR opened at $55.48 on Thursday. BellRing Brands, Inc. has a twelve month low of $34.58 and a twelve month high of $62.76. The company has a 50-day moving average price of $57.71 and a 200 day moving average price of $53.95. The company has a market cap of $7.27 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, topping 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 firm had revenue of $430.40 million during the quarter, compared to the consensus estimate of $407.91 million. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 1.67 earnings per share for the current year.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were 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 approximately $1,424,785.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by 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.