BellRing Brands, Inc. (NYSE:BRBR) Stake Lifted by Truist Financial Corp

Truist Financial Corp increased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,139 shares of the company’s stock after acquiring an additional 70,878 shares during the period. Truist Financial Corp’s holdings in BellRing Brands were worth $50,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in BellRing Brands during the third quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its position in shares of BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares during the last quarter. UMB Bank n.a. raised its stake in shares of BellRing Brands by 69.4% in the fourth quarter. UMB Bank n.a. now owns 571 shares of the company’s stock valued at $43,000 after purchasing an additional 234 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of BellRing Brands during the 3rd quarter worth about $44,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in BellRing Brands during the fourth quarter worth about $52,000. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR opened at $76.55 on Tuesday. BellRing Brands, Inc. has a 52 week low of $48.06 and a 52 week high of $80.67. The stock has a 50 day moving average price of $75.79 and a two-hundred day moving average price of $67.72. The firm has a market capitalization of $9.86 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.34 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share 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, equities analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BRBR shares. TD Cowen boosted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Evercore ISI lifted their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Stifel Nicolaus upped their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America boosted their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Citigroup increased their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.87.

Insider Activity at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total value of $2,188,320.23. Following the sale, the director now directly owns 1,110,004 shares of the company’s stock, valued at $85,370,407.64. This trade represents a 2.50 % 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. 1.07% of the stock is currently owned by corporate insiders.

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.