Allianz Asset Management GmbH Lowers Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Allianz Asset Management GmbH lowered its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 16.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 633,407 shares of the company’s stock after selling 122,945 shares during the period. Allianz Asset Management GmbH’s holdings in BellRing Brands were worth $47,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after purchasing an additional 474 shares during the period. UMB Bank n.a. grew its position in BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after acquiring an additional 234 shares during the period. Truvestments Capital LLC purchased a new stake in BellRing Brands during the third quarter valued at about $44,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in BellRing Brands during the fourth quarter valued at about $52,000. Finally, Fifth Third Bancorp grew its position in BellRing Brands by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 995 shares of the company’s stock valued at $75,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling

In other BellRing Brands news, Director Robert V. Vitale sold 46,766 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $74.72, for a total transaction of $3,494,355.52. Following the sale, the director now owns 848,180 shares in the company, valued at $63,376,009.60. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 203,636 shares of company stock worth $15,581,650. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BRBR. Stephens reissued an “equal weight” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their price target on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Mizuho boosted their price target on BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, TD Cowen upped their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.87.

BellRing Brands Stock Performance

NYSE:BRBR opened at $72.99 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $80.67. The business’s 50-day simple moving average is $75.61 and its 200 day simple moving average is $68.47. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping 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, equities research analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

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.