Retirement Systems of Alabama Cuts Stake in BellRing Brands, Inc. (NYSE:BRBR)

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama trimmed its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR – Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,428 shares of the company’s stock after selling 3,990 shares during the period. Retirement Systems of Alabama owned about 0.20% of BellRing Brands worth $8,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRBR. Vanguard Group Inc. increased its position in shares of BellRing Brands by 14.6% during the third quarter. Vanguard Group Inc. now owns 13,007,535 shares of the company’s stock worth $268,085,000 after purchasing an additional 1,652,836 shares in the last quarter. BlackRock Inc. increased its stake in BellRing Brands by 328.4% during the 1st quarter. BlackRock Inc. now owns 12,967,658 shares of the company’s stock valued at $299,293,000 after purchasing an additional 9,940,436 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of BellRing Brands by 1.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,684,211 shares of the company’s stock valued at $166,370,000 after acquiring an additional 97,600 shares during the period. State Street Corp raised its stake in BellRing Brands by 15.8% in the 3rd quarter. State Street Corp now owns 4,177,667 shares of the company’s stock worth $86,102,000 after acquiring an additional 569,787 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BellRing Brands by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,739,059 shares of the company’s stock valued at $70,232,000 after purchasing an additional 17,178 shares during the period. 94.34% of the stock is currently owned by institutional investors.

BellRing Brands Stock Up 0.3 %

Shares of NYSE:BRBR opened at $35.64 on Monday. BellRing Brands, Inc. has a 52-week low of $20.20 and a 52-week high of $37.91. The stock has a market cap of $4.73 billion, a P/E ratio of 32.40, a PEG ratio of 2.06 and a beta of 0.84. The business has a fifty day moving average of $36.11 and a two-hundred day moving average of $33.13.

BellRing Brands (NYSE:BRBR – Get Free Report) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $385.60 million during the quarter, compared to analyst estimates of $371.26 million. BellRing Brands had a net margin of 9.87% and a negative return on equity of 42.81%. BellRing Brands’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that BellRing Brands, Inc. will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BRBR shares. William Blair started coverage on shares of BellRing Brands in a research report on Wednesday, April 26th. They set an “outperform” rating for the company. Needham & Company LLC lifted their price objective on BellRing Brands from $40.00 to $44.00 in a research note on Wednesday, May 10th. Mizuho upped their target price on BellRing Brands from $38.00 to $47.00 in a research note on Thursday, May 11th. Bank of America lifted their price target on BellRing Brands from $35.00 to $41.00 in a research report on Tuesday, May 9th. Finally, Stephens raised their price objective on shares of BellRing Brands from $39.00 to $43.00 in a research note on Wednesday, May 10th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $40.15.

Insider Activity

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $35.82, for a total transaction of $537,300.00. Following the completion of the sale, the chairman now owns 230,054 shares of the company’s stock, valued at $8,240,534.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

BellRing Brands Profile

(Free Report)

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.