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

Allianz Asset Management GmbH lowered its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,407 shares of the company's stock after selling 122,945 shares during the quarter. Allianz Asset Management GmbH owned about 0.49% of BellRing Brands worth $47,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock worth $41,000 after acquiring an additional 474 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of BellRing Brands by 69.4% during the fourth quarter. UMB Bank n.a. now owns 571 shares of the company's stock worth $43,000 after purchasing an additional 234 shares during the period. Truvestments Capital LLC purchased a new stake in BellRing Brands in the third quarter valued at approximately $44,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in BellRing Brands in the 4th quarter worth approximately $52,000. Finally, Fifth Third Bancorp raised its position in BellRing Brands by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 995 shares of the company's stock worth $75,000 after buying an additional 153 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BRBR. TD Cowen increased their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reaffirmed a "neutral" rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, November 19th. Bank of America boosted their price objective on BellRing Brands from $75.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Stifel Nicolaus raised their target price on BellRing Brands from $67.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, Stephens reiterated an "equal weight" rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.87.

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BellRing Brands Stock Down 1.1 %

Shares of NYSE BRBR traded down $0.78 during trading on Wednesday, hitting $71.44. The company had a trading volume of 1,132,852 shares, compared to its average volume of 1,198,020. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a fifty day simple moving average of $75.41 and a two-hundred day simple moving average of $68.83. 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 earnings per share (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, analysts anticipate that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the company'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 value of $2,188,320.23. Following the completion of the sale, the director now directly owns 1,110,004 shares in the company, valued at $85,370,407.64. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 203,636 shares of company stock worth $15,581,650. Corporate insiders own 1.07% of the company's stock.

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.