Truist Financial Corp Buys 70,878 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Truist Financial Corp grew its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 672,139 shares of the company's stock after purchasing an additional 70,878 shares during the quarter. Truist Financial Corp owned about 0.52% of BellRing Brands worth $50,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC increased its stake in shares of BellRing Brands by 264.3% during the 3rd quarter. CWM LLC now owns 3,927 shares of the company's stock worth $238,000 after purchasing an additional 2,849 shares during the last quarter. V Square Quantitative Management LLC bought a new position in BellRing Brands during the third quarter worth about $31,000. Lecap Asset Management Ltd. acquired a new position in BellRing Brands during the third quarter worth approximately $1,501,000. International Assets Investment Management LLC acquired a new position in BellRing Brands during the third quarter worth approximately $57,960,000. Finally, E. Ohman J or Asset Management AB bought a new stake in BellRing Brands in the third quarter valued at approximately $30,753,000. Institutional investors own 94.97% of the company's stock.

BellRing Brands Trading Down 1.6 %

Shares of NYSE:BRBR traded down $1.18 on Friday, reaching $72.99. 1,992,299 shares of the company's stock were exchanged, compared to its average volume of 1,169,021. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a fifty day moving average of $75.61 and a 200-day moving average of $68.36. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.34 and a beta of 0.86.

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

Insider Transactions at BellRing Brands

In related news, Director Robert V. Vitale sold 46,766 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $74.72, for a total transaction of $3,494,355.52. Following the completion of the sale, the director now owns 848,180 shares of the company's stock, valued at $63,376,009.60. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 203,636 shares of company stock valued at $15,581,650. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial lifted their target price on BellRing Brands from $60.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, November 20th. Barclays lifted their price objective on shares of BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Stifel Nicolaus increased their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Stephens restated an "equal weight" rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, DA Davidson reiterated a "neutral" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, BellRing Brands currently has an average rating of "Moderate Buy" and a consensus target price of $77.87.

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.