DAVENPORT & Co LLC Cuts Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

DAVENPORT & Co LLC decreased its stake in shares of BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 56.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,359 shares of the company's stock after selling 12,278 shares during the quarter. DAVENPORT & Co LLC's holdings in BellRing Brands were worth $705,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Wasatch Advisors LP increased its position in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company's stock valued at $406,903,000 after acquiring an additional 494,669 shares during the last quarter. Franklin Resources Inc. raised its position in BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company's stock worth $285,646,000 after purchasing an additional 380,216 shares during the period. State Street Corp lifted its stake in BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company's stock worth $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company's stock valued at $167,388,000 after buying an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of BellRing Brands by 21.5% in the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company's stock worth $157,202,000 after buying an additional 457,796 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

Insider Activity

In other news, Director Robert V. Vitale sold 5,100 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the sale, the director now owns 1,166,691 shares of the company's stock, valued at approximately $87,851,832.30. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.07% of the company's stock.

BellRing Brands Stock Performance

Shares of BRBR stock traded up $0.76 on Tuesday, hitting $76.24. 689,365 shares of the stock traded hands, compared to its average volume of 1,192,199. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The stock has a market capitalization of $9.82 billion, a PE ratio of 35.79, a PEG ratio of 2.34 and a beta of 0.86. The firm's 50-day moving average price is $75.86 and its two-hundred day moving average price is $66.99.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced 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 net margin of 13.32% and a negative return on equity of 130.14%. On average, equities research analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BRBR shares. Mizuho lifted their price objective on BellRing Brands from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on BellRing Brands from $73.00 to $77.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. TD Cowen raised their price objective on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Stephens reiterated an "equal weight" rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, February 4th. Finally, Barclays upped their price target on shares of BellRing Brands from $79.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BellRing Brands currently has a consensus rating of "Moderate Buy" and an average price target 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.