Oppenheimer Asset Management Inc. Sells 702 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Oppenheimer Asset Management Inc. trimmed its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,388 shares of the company’s stock after selling 702 shares during the period. Oppenheimer Asset Management Inc.’s holdings in BellRing Brands were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BRBR. Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of BellRing Brands in the 4th quarter valued at about $243,000. Argonautica Private Wealth Management Inc. lifted its stake in BellRing Brands by 3.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,259 shares of the company’s stock valued at $472,000 after acquiring an additional 185 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in BellRing Brands during the 4th quarter worth approximately $238,000. FourThought Financial Partners LLC bought a new position in shares of BellRing Brands during the 4th quarter worth approximately $227,000. Finally, Quartz Partners LLC raised its holdings in shares of BellRing Brands by 5.7% in the fourth quarter. Quartz Partners LLC now owns 40,766 shares of the company’s stock valued at $3,071,000 after purchasing an additional 2,206 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on BRBR. Bank of America raised 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. Deutsche Bank Aktiengesellschaft boosted their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group increased their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup boosted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of BellRing Brands in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.87.

Insider Activity at BellRing Brands

In other news, Director Robert V. Vitale sold 28,453 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $76.91, for a total transaction of $2,188,320.23. Following the completion of the sale, the director now directly owns 1,110,004 shares in the company, valued at approximately $85,370,407.64. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 218,636 shares of company stock worth $16,677,550. Company insiders own 1.07% of the company’s stock.

BellRing Brands Stock Up 4.1 %

Shares of NYSE:BRBR opened at $73.36 on Friday. The business has a 50 day moving average of $75.13 and a 200-day moving average of $69.10. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The stock has a market cap of $9.41 billion, a PE ratio of 34.44, a P/E/G ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. Equities research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

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.