Ossiam Sells 70,000 Shares of BellRing Brands Inc. $BRBR

Ossiam decreased its holdings in shares of BellRing Brands Inc. (NYSE:BRBR) by 72.9% during the second quarter, Holdings Channel.com reports. The firm owned 26,000 shares of the company’s stock after selling 70,000 shares during the period. Ossiam’s holdings in BellRing Brands were worth $1,506,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Bank of Nova Scotia bought a new stake in shares of BellRing Brands in the 2nd quarter worth about $7,566,000. California Public Employees Retirement System grew its position in BellRing Brands by 4.2% in the second quarter. California Public Employees Retirement System now owns 226,101 shares of the company’s stock worth $13,098,000 after acquiring an additional 9,179 shares in the last quarter. Gabelli Funds LLC grew its position in BellRing Brands by 2.6% in the second quarter. Gabelli Funds LLC now owns 562,182 shares of the company’s stock worth $32,567,000 after acquiring an additional 14,500 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA increased its stake in BellRing Brands by 1.0% during the second quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 100,928 shares of the company’s stock worth $5,847,000 after acquiring an additional 995 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in BellRing Brands by 25.0% during the second quarter. Baird Financial Group Inc. now owns 648,883 shares of the company’s stock worth $37,590,000 after acquiring an additional 129,925 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BRBR shares. Barclays lowered their price objective on BellRing Brands from $44.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Zacks Research downgraded BellRing Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down from $50.00) on shares of BellRing Brands in a research note on Wednesday, November 19th. Stifel Nicolaus cut their price objective on shares of BellRing Brands from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of BellRing Brands in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.53.

Insider Buying and Selling at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of BellRing Brands stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the sale, the insider owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. The trade was a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.07% of the company’s stock.

BellRing Brands Trading Up 0.1%

NYSE BRBR opened at $30.54 on Wednesday. The stock has a market cap of $3.65 billion, a PE ratio of 18.18, a PEG ratio of 4.08 and a beta of 0.67. BellRing Brands Inc. has a 12 month low of $22.45 and a 12 month high of $80.67. The company’s 50-day moving average price is $31.34 and its 200-day moving average price is $43.19.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, November 18th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $648.20 million for the quarter, compared to the consensus estimate of $633.21 million. BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, sell-side analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands declared that its board has approved a stock repurchase program on Tuesday, September 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.