Allspring Global Investments Holdings LLC Has $49.05 Million Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Allspring Global Investments Holdings LLC reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,416 shares of the company's stock after selling 220,077 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.51% of BellRing Brands worth $49,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Holocene Advisors LP bought a new position in shares of BellRing Brands in the 3rd quarter valued at $69,998,000. Assenagon Asset Management S.A. boosted its stake in BellRing Brands by 200.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company's stock valued at $74,781,000 after buying an additional 661,774 shares in the last quarter. E. Ohman J or Asset Management AB bought a new position in BellRing Brands in the third quarter valued at about $30,753,000. Champlain Investment Partners LLC acquired a new position in BellRing Brands during the third quarter worth about $30,699,000. Finally, Wasatch Advisors LP lifted its holdings in shares of BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock worth $406,903,000 after acquiring an additional 494,669 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRBR has been the topic of several research reports. Truist Financial lifted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, November 20th. Barclays boosted their target price on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI increased their price target on BellRing Brands from $70.00 to $78.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Stifel Nicolaus boosted their price objective on BellRing Brands from $67.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Finally, DA Davidson reiterated a "neutral" rating and issued a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.87.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares of the company's stock, valued at $85,370,407.64. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.07% of the stock is owned by company insiders.

BellRing Brands Price Performance

Shares of BellRing Brands stock traded down $1.00 during midday trading on Monday, reaching $76.55. The company had a trading volume of 948,045 shares, compared to its average volume of 1,229,046. The firm has a market cap of $9.86 billion, a PE ratio of 35.94, a P/E/G ratio of 2.34 and a beta of 0.86. The stock has a fifty day moving average price of $75.79 and a 200 day moving average price of $67.72. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 2.23 EPS for the current year.

About BellRing Brands

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.