BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,773 shares of the company’s stock after selling 5,945 shares during the period. Federated Hermes Inc. owned about 0.20% of BellRing Brands worth $14,344,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Arizona State Retirement System lifted its position in shares of BellRing Brands by 0.8% during the third quarter. Arizona State Retirement System now owns 37,813 shares of the company’s stock worth $1,559,000 after purchasing an additional 295 shares in the last quarter. Allworth Financial LP increased its stake in shares of BellRing Brands by 59.2% in the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after buying an additional 375 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of BellRing Brands by 0.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock worth $2,835,000 after buying an additional 494 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of BellRing Brands by 108.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,224 shares of the company’s stock worth $50,000 after buying an additional 636 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC increased its stake in shares of BellRing Brands by 2.7% in the third quarter. SeaBridge Investment Advisors LLC now owns 24,484 shares of the company’s stock worth $1,009,000 after buying an additional 638 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BRBR. Mizuho lifted their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Morgan Stanley lifted their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Stephens restated an “equal weight” rating and issued a $51.00 price target on shares of BellRing Brands in a research note on Tuesday, February 6th. Needham & Company LLC lifted their price target on shares of BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus boosted their target price on shares of BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $57.62.

Insider Buying and Selling

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total value of $57,810.00. Following the completion of the sale, the director now owns 24,646 shares of the company’s stock, valued at $1,424,785.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock opened at $55.11 on Tuesday. The company has a 50-day simple moving average of $57.84 and a 200-day simple moving average of $53.37. The firm has a market capitalization of $7.22 billion, a P/E ratio of 44.44, a P/E/G ratio of 2.05 and a beta of 0.83. BellRing Brands, Inc. has a one year low of $34.58 and a one year high of $62.76.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $430.40 million during the quarter, compared to analyst estimates of $407.91 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 1.67 earnings per share for the current year.

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.