Allianz Asset Management GmbH Has $19.08 Million Position in BellRing Brands Inc. $BRBR

Allianz Asset Management GmbH cut its holdings in BellRing Brands Inc. (NYSE:BRBR) by 43.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 329,403 shares of the company’s stock after selling 249,428 shares during the period. Allianz Asset Management GmbH owned approximately 0.26% of BellRing Brands worth $19,082,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Axiom Investors LLC DE grew its stake in shares of BellRing Brands by 418.1% in the first quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after acquiring an additional 1,814,811 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of BellRing Brands by 19.4% in the first quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company’s stock valued at $108,824,000 after acquiring an additional 237,475 shares in the last quarter. Junto Capital Management LP acquired a new position in shares of BellRing Brands in the first quarter valued at about $97,725,000. Bank of New York Mellon Corp grew its stake in shares of BellRing Brands by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,023,761 shares of the company’s stock valued at $76,229,000 after acquiring an additional 23,299 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of BellRing Brands in the first quarter valued at about $71,004,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BRBR shares. JPMorgan Chase & Co. decreased their price target on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley decreased their price target on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group upped their price target on shares of BellRing Brands from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BellRing Brands in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $64.27.

BellRing Brands Stock Down 0.8%

BRBR opened at $32.95 on Monday. BellRing Brands Inc. has a twelve month low of $32.72 and a twelve month high of $80.67. The company has a 50-day simple moving average of $37.50 and a 200 day simple moving average of $53.79. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.61 and a beta of 0.75.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $282.40 million during the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. Sell-side analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a share repurchase program on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at BellRing Brands

In related news, Director Shawn Conway bought 2,700 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $36.41 per share, with a total value of $98,307.00. Following the completion of the acquisition, the director owned 6,685 shares of the company’s stock, valued at $243,400.85. The trade was a 67.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig L. Rosenthal bought 2,600 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $37.29 per share, with a total value of $96,954.00. Following the acquisition, the insider directly owned 33,475 shares of the company’s stock, valued at approximately $1,248,282.75. The trade was a 8.42% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,616 shares of company stock valued at $65,995,248. 1.07% of the stock is currently owned by insiders.

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.