New York State Common Retirement Fund Sells 825 Shares of BellRing Brands, Inc. (NYSE:BRBR)

New York State Common Retirement Fund trimmed its stake in BellRing Brands, Inc. (NYSE:BRBR) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,414 shares of the company’s stock after selling 825 shares during the period. New York State Common Retirement Fund owned 0.05% of BellRing Brands worth $3,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in BellRing Brands by 50.9% during the 3rd quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock valued at $110,813,000 after acquiring an additional 906,559 shares during the period. Lord Abbett & CO. LLC lifted its position in BellRing Brands by 273.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock valued at $44,298,000 after acquiring an additional 786,756 shares during the period. American Century Companies Inc. purchased a new position in BellRing Brands during the 3rd quarter valued at about $23,552,000. Boston Partners purchased a new position in BellRing Brands during the 3rd quarter valued at about $19,316,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in BellRing Brands by 355.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 216,455 shares of the company’s stock worth $8,924,000 after buying an additional 168,892 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 0.4 %

Shares of NYSE BRBR opened at $57.42 on Monday. The firm has a 50 day moving average of $57.80 and a 200 day moving average of $54.20. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. BellRing Brands, Inc. has a 12-month low of $34.58 and a 12-month high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its 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 during 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%. Sell-side analysts predict that BellRing Brands, Inc. will post 1.67 EPS for the current year.

Insider Activity at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 24,646 shares in the company, valued at $1,424,785.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $51.00 target price on shares of BellRing Brands in a report on Tuesday, February 6th. Morgan Stanley lifted their target price on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. TD Cowen initiated coverage on shares of BellRing Brands in a report on Monday, April 22nd. They issued a “buy” rating and a $64.00 target price for the company. Barclays lifted their target price on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus lifted their target price on shares of BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.92.

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.