Harvest Fund Management Co. Ltd Buys New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Harvest Fund Management Co. Ltd acquired a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,213 shares of the company’s stock, valued at approximately $123,000.

A number of other institutional investors have also modified their holdings of BRBR. Arizona State Retirement System raised its position in shares of BellRing Brands by 0.8% in the third quarter. Arizona State Retirement System now owns 37,813 shares of the company’s stock worth $1,559,000 after acquiring an additional 295 shares during the period. Allworth Financial LP boosted its position in BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after purchasing an additional 375 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of BellRing Brands by 0.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock valued at $2,835,000 after buying an additional 494 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of BellRing Brands by 108.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,224 shares of the company’s stock worth $50,000 after buying an additional 636 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its position in shares of BellRing Brands by 2.7% during the 3rd quarter. SeaBridge Investment Advisors LLC now owns 24,484 shares of the company’s stock valued at $1,009,000 after buying an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRBR. Needham & Company LLC raised their target price on BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Barclays boosted their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of BellRing Brands in a research note on Tuesday, February 6th. TD Cowen began coverage on shares of BellRing Brands in a research note on Monday. They issued a “buy” rating and a $64.00 price target for the company. Finally, Citigroup assumed coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.62.

BellRing Brands Price Performance

NYSE BRBR opened at $55.26 on Friday. The company has a market cap of $7.24 billion, a P/E ratio of 44.56, a P/E/G ratio of 2.11 and a beta of 0.83. The stock has a 50-day moving average of $57.68 and a two-hundred day moving average of $53.50. BellRing Brands, Inc. has a 1-year low of $34.58 and a 1-year high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The firm had revenue of $430.40 million for the quarter, compared to the consensus estimate of $407.91 million. On average, analysts anticipate that BellRing Brands, Inc. will post 1.67 EPS for the current fiscal year.

Insider Activity at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by company 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.