The Manufacturers Life Insurance Company Sells 4,239 Shares of BellRing Brands, Inc. (NYSE:BRBR)

The Manufacturers Life Insurance Company decreased its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,150 shares of the company’s stock after selling 4,239 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of BellRing Brands worth $6,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of BellRing Brands by 165.3% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after purchasing an additional 615 shares during the period. Opal Wealth Advisors LLC bought a new stake in BellRing Brands during the 2nd quarter valued at approximately $28,000. M&G Plc grew its holdings in shares of BellRing Brands by 12.4% during the 2nd quarter. M&G Plc now owns 157,181 shares of the company’s stock worth $8,959,000 after acquiring an additional 17,383 shares during the period. Andina Capital Management LLC raised its position in shares of BellRing Brands by 14.2% in the 2nd quarter. Andina Capital Management LLC now owns 6,936 shares of the company’s stock worth $396,000 after acquiring an additional 862 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of BellRing Brands by 1,006.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock valued at $21,290,000 after purchasing an additional 338,903 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BRBR. Jefferies Financial Group increased their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus upped their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America lifted their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI upped their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.60.

BellRing Brands Stock Performance

NYSE BRBR opened at $78.74 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The stock has a 50-day moving average of $68.81 and a 200 day moving average of $60.51. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 2.58 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

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.