United Services Automobile Association Sells 302 Shares of BellRing Brands, Inc. (NYSE:BRBR)

United Services Automobile Association trimmed its position in BellRing Brands, Inc. (NYSE:BRBR) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,284 shares of the company’s stock after selling 302 shares during the period. United Services Automobile Association’s holdings in BellRing Brands were worth $588,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands in the 2nd quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of BellRing Brands in the 1st quarter valued at about $32,000. Parallel Advisors LLC increased its position in shares of BellRing Brands by 153.6% in the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after acquiring an additional 361 shares during the last quarter. Spire Wealth Management raised its holdings in BellRing Brands by 40.0% during the fourth quarter. Spire Wealth Management now owns 1,050 shares of the company’s stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after purchasing an additional 615 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Stock Performance

Shares of BRBR opened at $57.24 on Wednesday. The firm’s 50-day simple moving average is $54.20 and its 200 day simple moving average is $56.58. The firm has a market cap of $7.47 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. BellRing Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $62.76.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.44 by $0.10. The company had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, equities analysts forecast that BellRing Brands, Inc. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Stephens reiterated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.64.

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.