Retirement Systems of Alabama Acquires 505 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Retirement Systems of Alabama raised its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,530 shares of the company’s stock after purchasing an additional 505 shares during the period. Retirement Systems of Alabama owned 0.19% of BellRing Brands worth $14,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC raised its position in BellRing Brands by 1.9% during the 3rd quarter. FMR LLC now owns 4,524,052 shares of the company’s stock valued at $186,527,000 after purchasing an additional 84,750 shares during the last quarter. Invesco Ltd. raised its position in shares of BellRing Brands by 50.9% in the 3rd quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock worth $110,813,000 after acquiring an additional 906,559 shares in the last quarter. London Co. of Virginia raised its position in shares of BellRing Brands by 1.1% in the 3rd quarter. London Co. of Virginia now owns 2,232,366 shares of the company’s stock worth $92,040,000 after acquiring an additional 23,769 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of BellRing Brands by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,382,931 shares of the company’s stock worth $57,018,000 after acquiring an additional 51,308 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BellRing Brands by 9.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,137,617 shares of the company’s stock worth $46,904,000 after acquiring an additional 99,529 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $51.00 target price on shares of BellRing Brands in a research report on Tuesday, February 6th. Mizuho increased their target price on BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Citigroup began coverage on BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 target price for the company. TD Cowen began coverage on BellRing Brands in a research report on Monday, April 22nd. They set a “buy” rating and a $64.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.92.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now directly owns 24,646 shares in the company, valued at approximately $1,424,785.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

BellRing Brands Trading Up 0.6 %

Shares of BRBR opened at $55.48 on Thursday. The business’s fifty day simple moving average is $57.71 and its two-hundred day simple moving average is $53.95. BellRing Brands, Inc. has a 12 month low of $34.58 and a 12 month high of $62.76. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 2.13 and a beta of 0.83.

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

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.