Allianz Asset Management GmbH Decreases Stock Holdings in BellRing Brands Inc. $BRBR

Allianz Asset Management GmbH lowered its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 41.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,370 shares of the company’s stock after selling 135,033 shares during the quarter. Allianz Asset Management GmbH’s holdings in BellRing Brands were worth $7,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. William Blair Investment Management LLC purchased a new stake in shares of BellRing Brands during the 2nd quarter valued at about $124,777,000. Holocene Advisors LP increased its stake in BellRing Brands by 50.7% during the second quarter. Holocene Advisors LP now owns 3,928,395 shares of the company’s stock worth $227,572,000 after acquiring an additional 1,320,849 shares during the last quarter. Norges Bank purchased a new stake in BellRing Brands during the second quarter valued at approximately $66,057,000. Qube Research & Technologies Ltd raised its position in BellRing Brands by 200.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,122,398 shares of the company’s stock valued at $65,021,000 after purchasing an additional 748,990 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of BellRing Brands by 89.5% in the 2nd quarter. Primecap Management Co. CA now owns 1,145,218 shares of the company’s stock valued at $66,342,000 after purchasing an additional 540,818 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BRBR. Mizuho cut their target price on BellRing Brands from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Barclays reaffirmed an “overweight” rating on shares of BellRing Brands in a research note on Thursday. Sanford C. Bernstein started coverage on shares of BellRing Brands in a research note on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 target price on the stock. Evercore lowered their target price on shares of BellRing Brands from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, Stifel Nicolaus dropped their price target on shares of BellRing Brands from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Twelve investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.88.

BellRing Brands Trading Down 3.8%

NYSE:BRBR opened at $18.78 on Tuesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.84 and a beta of 0.64. BellRing Brands Inc. has a twelve month low of $18.75 and a twelve month high of $79.57. The stock has a fifty day simple moving average of $26.83 and a 200-day simple moving average of $32.99.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $537.30 million for the quarter, compared to the consensus estimate of $505.44 million. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. As a group, equities research analysts predict that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Insider Transactions at BellRing Brands

In related news, insider Douglas J. Cornille sold 3,970 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the transaction, the insider owned 54,812 shares of the company’s stock, valued at $1,695,335.16. This represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

BellRing Brands Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high?protein, better?for?you nutrition products. Formed in March 2020 as a spin?off from Post Holdings, the company focuses on delivering convenient protein solutions to health?conscious consumers through a portfolio of well?known and emerging brands.

The company’s product offerings include ready?to?drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.