Thrivent Financial for Lutherans Sells 16,499 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Thrivent Financial for Lutherans lessened its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,168 shares of the company’s stock after selling 16,499 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.06% of BellRing Brands worth $5,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in BellRing Brands during the 3rd quarter worth $1,346,000. Intech Investment Management LLC bought a new position in BellRing Brands in the third quarter valued at about $3,871,000. Charles Schwab Investment Management Inc. boosted its stake in shares of BellRing Brands by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after purchasing an additional 333,287 shares in the last quarter. Citigroup Inc. grew its holdings in shares of BellRing Brands by 26.6% during the third quarter. Citigroup Inc. now owns 80,263 shares of the company’s stock worth $4,874,000 after purchasing an additional 16,887 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of BellRing Brands in the third quarter valued at approximately $30,699,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 0.4 %

NYSE:BRBR opened at $70.66 on Monday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 33.17, a P/E/G ratio of 2.24 and a beta of 0.85. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $80.67. The company has a fifty day moving average of $73.45 and a 200-day moving average of $70.61.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. On average, analysts anticipate that BellRing Brands, Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands announced that its Board of Directors has approved a share buyback plan on Thursday, March 6th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Robert V. Vitale sold 5,100 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.30, for a total transaction of $384,030.00. Following the completion of the sale, the director now owns 1,166,691 shares in the company, valued at $87,851,832.30. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 218,636 shares of company stock worth $16,677,550. Corporate insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BRBR shares. Mizuho lifted their target price on shares of BellRing Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Stephens reissued an “equal weight” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, February 4th. Citigroup raised their target price on BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. TD Cowen upped their price target on BellRing Brands from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Barclays raised their price objective on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and an average target price of $78.79.

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.