The Manufacturers Life Insurance Company Trims Stake in BellRing Brands, Inc. (NYSE:BRBR)

The Manufacturers Life Insurance Company cut its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 3.8% during the 3rd quarter, Holdings Channel reports. The fund owned 108,150 shares of the company’s stock after selling 4,239 shares during the period. The Manufacturers Life Insurance Company’s holdings in BellRing Brands were worth $6,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BRBR. Opal Wealth Advisors LLC purchased a new position in BellRing Brands during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of BellRing Brands during the 3rd quarter valued at $31,000. Farther Finance Advisors LLC lifted its stake in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new position in BellRing Brands in the 3rd quarter worth $44,000. Finally, Quarry LP increased its stake in BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after buying an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.9 %

Shares of NYSE:BRBR opened at $78.74 on Friday. The company has a market cap 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, Inc. has a 12 month low of $48.06 and a 12 month high of $79.90. The company has a 50-day moving average price of $68.81 and a 200 day moving average price of $60.51.

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

Analysts Set New Price Targets

BRBR has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Mizuho boosted their price target on BellRing Brands from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group boosted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Evercore ISI upped their target price on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.60.

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.