Mane Global Capital Management LP Takes Position in BellRing Brands Inc. $BRBR

Mane Global Capital Management LP acquired a new stake in shares of BellRing Brands Inc. (NYSE:BRBR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 173,134 shares of the company’s stock, valued at approximately $10,030,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axiom Investors LLC DE lifted its holdings in BellRing Brands by 418.1% during the first quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company’s stock valued at $167,455,000 after purchasing an additional 1,814,811 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of BellRing Brands during the 2nd quarter valued at $124,777,000. Driehaus Capital Management LLC lifted its stake in shares of BellRing Brands by 19.4% during the 1st quarter. Driehaus Capital Management LLC now owns 1,461,515 shares of the company’s stock valued at $108,824,000 after buying an additional 237,475 shares in the last quarter. Junto Capital Management LP purchased a new position in shares of BellRing Brands during the 1st quarter valued at $97,725,000. Finally, Primecap Management Co. CA boosted its holdings in BellRing Brands by 89.5% in the 2nd quarter. Primecap Management Co. CA now owns 1,145,218 shares of the company’s stock worth $66,342,000 after buying an additional 540,818 shares during the period. Institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho decreased their price target on BellRing Brands from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of BellRing Brands in a research note on Monday. Barclays lowered their price target on BellRing Brands from $44.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. Cowen lowered shares of BellRing Brands from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down previously from $50.00) on shares of BellRing Brands in a research report on Wednesday, November 19th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.53.

BellRing Brands Stock Up 9.0%

BellRing Brands stock opened at $33.29 on Thursday. The company’s 50-day moving average price is $31.28 and its 200-day moving average price is $43.12. The company has a market cap of $3.98 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 4.08 and a beta of 0.67. BellRing Brands Inc. has a twelve month low of $22.45 and a twelve month high of $80.67.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). BellRing Brands had a negative return on equity of 95.87% and a net margin of 9.33%.The company had revenue of $648.20 million during the quarter, compared to the consensus estimate of $633.21 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has initiated a share buyback plan on Tuesday, September 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at BellRing Brands

In other news, insider Douglas J. Cornille sold 3,970 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the transaction, the insider owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. This represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by insiders.

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.