CIBC Private Wealth Group LLC Sells 28,595 Shares of BellRing Brands, Inc. (NYSE:BRBR)

CIBC Private Wealth Group LLC lessened its holdings in BellRing Brands, Inc. (NYSE:BRBRFree Report) by 66.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,559 shares of the company’s stock after selling 28,595 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in BellRing Brands were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BRBR. Norges Bank purchased a new stake in BellRing Brands during the fourth quarter worth about $91,936,000. Franklin Resources Inc. lifted its stake in BellRing Brands by 60.3% in the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock valued at $203,239,000 after purchasing an additional 1,379,138 shares during the last quarter. Invesco Ltd. grew its holdings in BellRing Brands by 50.9% during the third quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock valued at $110,813,000 after purchasing an additional 906,559 shares during the period. American Century Companies Inc. purchased a new stake in BellRing Brands in the third quarter worth $23,552,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of BellRing Brands in the fourth quarter valued at $16,900,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

BRBR stock opened at $57.36 on Tuesday. The firm has a market cap of $7.48 billion, a P/E ratio of 39.83, a P/E/G ratio of 1.65 and a beta of 0.85. The firm’s fifty day moving average is $57.41 and its 200 day moving average is $56.63. BellRing Brands, Inc. has a 52 week low of $34.58 and a 52 week high of $62.76.

BellRing Brands (NYSE:BRBRGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The firm had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $467.22 million. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. As a group, analysts forecast that BellRing Brands, Inc. will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BRBR shares. Stephens reissued an “equal weight” rating and issued a $53.00 price objective on shares of BellRing Brands in a report on Tuesday, May 7th. Stifel Nicolaus upped their price target on shares of BellRing Brands from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. TD Cowen lifted their price objective on shares of BellRing Brands from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI increased their target price on BellRing Brands from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Mizuho boosted their price objective on BellRing Brands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average target price of $62.23.

Check Out Our Latest Report on BRBR

Insider Buying and Selling

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $60.15, for a total value of $902,250.00. Following the sale, the chairman now owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by insiders.

BellRing Brands Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BellRing Brands (NYSE:BRBR)

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