Corebridge Financial Inc. Lowers Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Corebridge Financial Inc. decreased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,237 shares of the company's stock after selling 6,605 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of BellRing Brands worth $11,017,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BRBR. Vanguard Group Inc. raised its position in shares of BellRing Brands by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,438,006 shares of the company's stock valued at $1,012,419,000 after buying an additional 135,105 shares in the last quarter. Stevens Capital Management LP bought a new stake in BellRing Brands during the fourth quarter worth approximately $206,000. LPL Financial LLC raised its position in BellRing Brands by 40.9% during the fourth quarter. LPL Financial LLC now owns 37,514 shares of the company's stock valued at $2,826,000 after purchasing an additional 10,882 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in BellRing Brands during the fourth quarter valued at approximately $2,295,000. Finally, Sei Investments Co. lifted its stake in shares of BellRing Brands by 2.4% in the 4th quarter. Sei Investments Co. now owns 394,037 shares of the company's stock valued at $29,687,000 after purchasing an additional 9,281 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

NYSE:BRBR traded up $0.21 during mid-day trading on Monday, hitting $74.39. 1,350,028 shares of the company's stock traded hands, compared to its average volume of 1,180,088. The company has a market capitalization of $9.54 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.24 and a beta of 0.85. The company has a fifty day moving average of $73.62 and a 200 day moving average of $71.30. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67.

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

BellRing Brands declared that its board has initiated a share repurchase program on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at BellRing Brands

In other news, Director Robert V. Vitale sold 79,068 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $77.04, for a total value of $6,091,398.72. Following the completion of the transaction, the director now directly owns 982,706 shares in the company, valued at $75,707,670.24. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 218,636 shares of company stock worth $16,677,550. Company insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

BRBR has been the topic of several recent research reports. Barclays increased their price target on BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. TD Cowen raised their target price on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Mizuho lifted their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley assumed coverage on shares of BellRing Brands in a research report on Monday, March 24th. They issued an "overweight" rating and a $84.00 price objective on the stock. Finally, Citigroup boosted their target price on BellRing Brands from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.13.

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.