Bank of Montreal Can Sells 13,108 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Bank of Montreal Can trimmed its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,433 shares of the company’s stock after selling 13,108 shares during the period. Bank of Montreal Can’s holdings in BellRing Brands were worth $1,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC lifted its stake in BellRing Brands by 1,007.4% in the 1st quarter. SG Americas Securities LLC now owns 68,349 shares of the company’s stock valued at $4,035,000 after purchasing an additional 62,177 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BellRing Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock worth $736,151,000 after acquiring an additional 155,252 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of BellRing Brands during the 4th quarter worth approximately $3,331,000. Artemis Investment Management LLP raised its stake in BellRing Brands by 13.7% in the 1st quarter. Artemis Investment Management LLP now owns 774,815 shares of the company’s stock valued at $45,720,000 after acquiring an additional 93,505 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in BellRing Brands during the 1st quarter valued at $1,021,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Up 0.9 %

Shares of NYSE BRBR opened at $62.12 on Friday. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 1.58 and a beta of 0.85. BellRing Brands, Inc. has a 12 month low of $40.63 and a 12 month high of $62.76. The stock has a 50-day moving average price of $56.58 and a two-hundred day moving average price of $56.72.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. During the same period in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

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