Amalgamated Bank Reduces Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Amalgamated Bank lowered its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,884 shares of the company’s stock after selling 2,170 shares during the period. Amalgamated Bank’s holdings in BellRing Brands were worth $4,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its position in BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after purchasing an additional 494,669 shares during the last quarter. Franklin Resources Inc. grew its holdings in BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after acquiring an additional 380,216 shares during the period. State Street Corp increased its holdings in shares of BellRing Brands by 1.3% in the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after purchasing an additional 50,339 shares in the last quarter. Wellington Management Group LLP increased its holdings in BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after buying an additional 281,667 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after purchasing an additional 457,796 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

BellRing Brands stock opened at $70.50 on Friday. BellRing Brands, Inc. has a 1 year low of $48.06 and a 1 year high of $80.67. The firm has a 50 day moving average price of $75.19 and a 200 day moving average price of $68.86. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.58 earnings per share (EPS) 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%. Sell-side analysts predict that BellRing Brands, Inc. will post 2.23 EPS for the current year.

Insider Buying and Selling at BellRing Brands

In related news, Director Robert V. Vitale sold 28,453 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now owns 1,110,004 shares of the company’s stock, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 218,636 shares of company stock valued at $16,677,550. Company insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BRBR. Mizuho increased their price target on shares of BellRing Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays raised their price target on BellRing Brands from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Stifel Nicolaus upped their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.87.

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.