The Manufacturers Life Insurance Company Reduces Position in BellRing Brands Inc. $BRBR

The Manufacturers Life Insurance Company decreased its holdings in BellRing Brands Inc. (NYSE:BRBR) by 25.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,842,434 shares of the company’s stock after selling 987,730 shares during the period. The Manufacturers Life Insurance Company owned approximately 2.44% of BellRing Brands worth $45,735,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BRBR. Retirement Systems of Alabama raised its position in BellRing Brands by 55.2% in the 4th quarter. Retirement Systems of Alabama now owns 538,946 shares of the company’s stock valued at $14,406,000 after purchasing an additional 191,638 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of BellRing Brands by 125.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,964,321 shares of the company’s stock worth $52,506,000 after purchasing an additional 1,092,328 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of BellRing Brands by 154.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 444,048 shares of the company’s stock worth $7,145,000 after purchasing an additional 269,644 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of BellRing Brands by 5.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,127,834 shares of the company’s stock valued at $30,147,000 after buying an additional 60,005 shares in the last quarter. Finally, River Road Asset Management LLC acquired a new stake in shares of BellRing Brands in the fourth quarter valued at $56,465,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BRBR shares. BTIG Research began coverage on shares of BellRing Brands in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Stifel Nicolaus raised their price objective on shares of BellRing Brands from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. UBS Group boosted their target price on shares of BellRing Brands from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of BellRing Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Bank of America decreased their price target on shares of BellRing Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.97.

Insider Buying and Selling

In related news, Director David Isaiah Finkelstein bought 4,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $9.23 per share, with a total value of $36,920.00. Following the completion of the purchase, the director owned 13,326 shares of the company’s stock, valued at $122,998.98. This represents a 42.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $13.20 on Friday. The firm’s 50 day moving average price is $11.01 and its two-hundred day moving average price is $15.24. BellRing Brands Inc. has a 52-week low of $7.82 and a 52-week high of $55.24. The stock has a market cap of $1.53 billion, a PE ratio of 10.23, a PEG ratio of 6.50 and a beta of 0.45.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Tuesday, May 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.17). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business had revenue of $598.70 million for the quarter, compared to the consensus estimate of $608.88 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that BellRing Brands Inc. will post 1.23 earnings per share for the current fiscal year.

BellRing Brands Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.