BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 146,237 shares of the company’s stock after selling 6,605 shares during the period. Corebridge Financial Inc.’s holdings in BellRing Brands were worth $11,017,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BRBR. SeaBridge Investment Advisors LLC lifted its holdings in shares of BellRing Brands by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 17,746 shares of the company’s stock valued at $1,337,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp lifted its stake in BellRing Brands by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after buying an additional 153 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in BellRing Brands by 3.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock valued at $472,000 after buying an additional 185 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in BellRing Brands by 5.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,501 shares of the company’s stock valued at $264,000 after buying an additional 188 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in BellRing Brands by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 4,048 shares of the company’s stock worth $305,000 after buying an additional 211 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of BellRing Brands stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total value of $2,188,320.23. Following the transaction, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 218,636 shares of company stock valued at $16,677,550 in the last quarter. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BRBR shares. TD Cowen upped their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Stephens reissued an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Citigroup boosted their price target on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on BellRing Brands in a research report on Monday. They set an “overweight” rating and a $84.00 target price on the stock. Finally, Mizuho increased their price objective on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and an average price target of $79.13.

BellRing Brands Price Performance

BellRing Brands stock opened at $73.94 on Thursday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The stock has a market capitalization of $9.49 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The firm has a 50 day simple moving average of $73.53 and a 200-day simple moving average of $70.87.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a negative return on equity of 130.14% and a net margin of 13.32%. On average, analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands announced that its board has approved a share repurchase plan on Thursday, March 6th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.