American Century Companies Inc. Sells 128,001 Shares of BellRing Brands Inc. $BRBR

American Century Companies Inc. trimmed its position in shares of BellRing Brands Inc. (NYSE:BRBR) by 73.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,924 shares of the company’s stock after selling 128,001 shares during the period. American Century Companies Inc.’s holdings in BellRing Brands were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC grew its position in shares of BellRing Brands by 112.8% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 247,014 shares of the company’s stock valued at $14,310,000 after acquiring an additional 130,946 shares during the period. AXQ Capital LP bought a new position in BellRing Brands during the second quarter worth about $1,506,000. Mediolanum International Funds Ltd increased its position in BellRing Brands by 82.6% during the second quarter. Mediolanum International Funds Ltd now owns 367,227 shares of the company’s stock worth $21,497,000 after buying an additional 166,106 shares during the last quarter. Legal & General Group Plc increased its position in BellRing Brands by 0.3% during the second quarter. Legal & General Group Plc now owns 258,910 shares of the company’s stock worth $14,999,000 after buying an additional 791 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in BellRing Brands by 51.1% in the second quarter. JPMorgan Chase & Co. now owns 592,924 shares of the company’s stock valued at $34,350,000 after buying an additional 200,436 shares during the period. 94.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BRBR has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BellRing Brands in a research report on Monday. Sanford C. Bernstein assumed coverage on shares of BellRing Brands in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 price objective on the stock. Evercore ISI cut their target price on shares of BellRing Brands from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Finally, UBS Group reaffirmed a “neutral” rating and set a $34.00 target price on shares of BellRing Brands in a report on Friday, November 28th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.53.

BellRing Brands Trading Up 0.1%

Shares of BRBR stock opened at $30.54 on Wednesday. The stock has a market cap of $3.65 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 4.08 and a beta of 0.67. BellRing Brands Inc. has a 1 year low of $22.45 and a 1 year high of $80.67. The stock has a 50 day simple moving average of $31.34 and a 200 day simple moving average of $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 the consensus estimate of $0.54 by ($0.03). The company had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. BellRing Brands’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Analysts forecast that BellRing Brands Inc. will post 2.23 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Douglas J. Cornille sold 3,970 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the completion of the transaction, the insider owned 54,812 shares of the company’s stock, valued at $1,695,335.16. The trade was a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is currently owned by company insiders.

BellRing Brands 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.