Retirement Systems of Alabama Reduces Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Retirement Systems of Alabama reduced its position in BellRing Brands, Inc. (NYSE:BRBR) by 28.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 157,148 shares of the company’s stock after selling 62,188 shares during the period. Retirement Systems of Alabama’s holdings in BellRing Brands were worth $11,840,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BRBR. Wasatch Advisors LP grew its holdings 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 acquiring an additional 494,669 shares in the last quarter. Franklin Resources Inc. lifted its stake in BellRing Brands by 9.3% in the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock valued at $285,646,000 after buying an additional 380,216 shares during the last quarter. State Street Corp lifted its position in 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 during the last quarter. Wellington Management Group LLP boosted its position in shares of BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock worth $167,388,000 after buying an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in BellRing Brands by 21.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after acquiring an additional 457,796 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Price Performance

BRBR stock opened at $76.49 on Friday. The firm has a market capitalization of $9.85 billion, a P/E ratio of 40.90, a P/E/G ratio of 2.61 and a beta of 0.86. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The company’s 50 day simple moving average is $75.94 and its 200-day simple moving average is $66.38.

BellRing Brands (NYSE:BRBR) last announced its earnings results 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 12.35% and a negative return on equity of 103.89%. Sell-side analysts predict that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BRBR shares. Jefferies Financial Group boosted their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Truist Financial upped their target price on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America upped their price objective on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, TD Cowen lifted their target price on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target 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.