BellRing Brands, Inc. (NYSE:BRBR) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,168 shares of the company's stock after selling 16,499 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of BellRing Brands worth $5,889,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company's stock valued at $43,000 after acquiring an additional 234 shares during the last quarter. Truvestments Capital LLC acquired a new position in BellRing Brands in the third quarter worth $44,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in BellRing Brands during the fourth quarter valued at $52,000. EverSource Wealth Advisors LLC raised its holdings in shares of BellRing Brands by 180.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after purchasing an additional 591 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of BellRing Brands by 18.2% in 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stephens reaffirmed an "equal weight" rating and set a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 4th. Morgan Stanley began coverage on BellRing Brands in a research report on Monday. They set an "overweight" rating and a $84.00 price target on the stock. Mizuho raised their price target on BellRing Brands from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays upped their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, TD Cowen raised their target price on BellRing Brands from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.13.

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BellRing Brands Stock Performance

Shares of BRBR stock traded up $0.13 during midday trading on Thursday, reaching $73.97. 692,385 shares of the company were exchanged, compared to its average volume of 1,126,379. The company's 50 day moving average price is $73.53 and its two-hundred day moving average price is $70.87. The company has a market cap of $9.49 billion, a P/E ratio of 34.73, a PEG ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67.

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, beating 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, sell-side analysts predict that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Robert V. Vitale sold 44,249 shares of BellRing Brands stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.37, for a total value of $3,423,545.13. Following the transaction, the director now owns 938,457 shares of the company's stock, valued at $72,608,418.09. The trade was a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 218,636 shares of company stock valued at $16,677,550 over the last three months. Company insiders own 1.07% of the company's stock.

BellRing Brands 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.