BellRing Brands, Inc. (NYSE:BRBR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 30.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,389 shares of the company’s stock after selling 48,123 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of BellRing Brands worth $6,422,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. D. E. Shaw & Co. Inc. lifted its holdings in shares of BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after acquiring an additional 847,161 shares during the period. Deerfield Management Company L.P. Series C increased its stake in BellRing Brands by 70.5% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,817 shares of the company’s stock valued at $618,000 after purchasing an additional 4,473 shares during the last quarter. AQR Capital Management LLC raised its position in shares of BellRing Brands by 72.3% during the 2nd quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock worth $30,419,000 after purchasing an additional 223,430 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of BellRing Brands by 665.2% during the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after acquiring an additional 545,371 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in BellRing Brands by 23.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after buying an additional 402,666 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Up 0.9 %

NYSE:BRBR opened at $62.12 on Friday. BellRing Brands, Inc. has a 12-month low of $40.63 and a 12-month high of $62.76. The stock’s 50 day moving average price is $56.58 and its two-hundred day moving average price is $56.72. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 1.58 and a beta of 0.85.

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

Wall Street Analysts Forecast Growth

BRBR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Stephens restated an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $62.64.

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.