Allspring Global Investments Holdings LLC Has $53.30 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Allspring Global Investments Holdings LLC lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 30.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 902,910 shares of the company’s stock after selling 398,972 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.69% of BellRing Brands worth $53,299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spire Wealth Management lifted its position in BellRing Brands by 40.0% during the fourth quarter. Spire Wealth Management now owns 1,050 shares of the company’s stock worth $56,000 after acquiring an additional 300 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 361 shares during the period. Rise Advisors LLC acquired a new stake in BellRing Brands during the 1st quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. bought a new stake in BellRing Brands in the 4th quarter valued at $44,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in BellRing Brands by 8.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,960 shares of the company’s stock valued at $718,000 after buying an additional 957 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.7 %

BRBR stock opened at $58.96 on Wednesday. The firm has a 50-day moving average price of $57.60 and a 200-day moving average price of $56.97. BellRing Brands, Inc. has a 12 month low of $34.58 and a 12 month high of $62.76. The stock has a market capitalization of $7.69 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. BellRing Brands had a net margin of 10.39% and a negative return on equity of 70.95%. The business had revenue of $494.60 million during the quarter, compared to the consensus estimate of $467.22 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. As a group, equities analysts predict that BellRing Brands, Inc. will post 1.8 EPS for the current fiscal year.

Insider Activity

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total value of $902,250.00. Following the completion of the transaction, the chairman now owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on BRBR. Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of BellRing Brands in a report on Tuesday, May 7th. Barclays boosted their price objective on shares of BellRing Brands from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Mizuho raised their target price on shares of BellRing Brands from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on BellRing Brands in a research note on Thursday, May 23rd. They issued a “buy” rating and a $67.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on BellRing Brands from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

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.