Allianz Asset Management GmbH Sells 135,033 Shares of BellRing Brands Inc. $BRBR

Allianz Asset Management GmbH reduced its stake in BellRing Brands Inc. (NYSE:BRBR) by 41.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 194,370 shares of the company’s stock after selling 135,033 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.15% of BellRing Brands worth $7,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in shares of BellRing Brands by 132.6% in the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after buying an additional 419 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in BellRing Brands in the 3rd quarter worth approximately $35,000. True Wealth Design LLC raised its stake in BellRing Brands by 4,110.3% during the 3rd quarter. True Wealth Design LLC now owns 1,221 shares of the company’s stock worth $44,000 after acquiring an additional 1,192 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in BellRing Brands by 42.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock valued at $72,000 after purchasing an additional 373 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of BellRing Brands in the second quarter worth approximately $82,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the transaction, the insider owned 54,812 shares in the company, valued at $1,695,335.16. This trade represents a 6.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

BellRing Brands Stock Performance

Shares of NYSE BRBR opened at $18.78 on Tuesday. The company has a market cap of $2.25 billion, a P/E ratio of 12.95, a P/E/G ratio of 3.84 and a beta of 0.64. BellRing Brands Inc. has a 52-week low of $18.75 and a 52-week high of $79.57. The firm’s fifty day moving average is $26.83 and its two-hundred day moving average is $32.99.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. BellRing Brands had a net margin of 7.88% and a negative return on equity of 64.79%. The business had revenue of $537.30 million during the quarter, compared to the consensus estimate of $505.44 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

BRBR has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price objective on shares of BellRing Brands in a research note on Wednesday, November 19th. William Blair reaffirmed an “outperform” rating on shares of BellRing Brands in a report on Tuesday, February 3rd. Morgan Stanley set a $32.00 price target on BellRing Brands in a report on Friday, January 16th. Evercore lowered their price objective on BellRing Brands from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Finally, TD Cowen reaffirmed a “hold” rating on shares of BellRing Brands in a research note on Thursday, January 8th. Twelve equities research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $38.88.

About BellRing Brands

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.